JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 1.1% - Here's Why

JPMorgan Chase & Co. (NYSE:JPM) fell 1.1% during trading on Monday . The stock traded as low as $237.11 and last traded at $238.41. 1,037,259 shares were traded during trading, a decline of 88% from the average session volume of 9,017,297 shares. The stock had previously closed at $241.17.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JPM. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Evercore ISI raised their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a "market perform" rating in a report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Hold" and a consensus price target of $234.81.

JPMorgan Chase & Co. Stock Performance

The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The company's 50 day moving average price is $238.06 and its 200-day moving average price is $219.74. The stock has a market cap of $673.77 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the prior year, the firm posted $4.33 EPS. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. Equities analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.'s payout ratio is 27.82%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of JPM. JPMorgan Chase & Co. grew its position in shares of JPMorgan Chase & Co. by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider's stock valued at $938,491,000 after acquiring an additional 319,730 shares during the period. Independent Solutions Wealth Management LLC grew its holdings in JPMorgan Chase & Co. by 3.2% during the third quarter. Independent Solutions Wealth Management LLC now owns 8,862 shares of the financial services provider's stock valued at $1,869,000 after purchasing an additional 275 shares during the period. SMART Wealth LLC increased its position in JPMorgan Chase & Co. by 171.2% in the third quarter. SMART Wealth LLC now owns 3,938 shares of the financial services provider's stock worth $830,000 after buying an additional 2,486 shares during the last quarter. Legacy Wealth Management LLC MS raised its stake in shares of JPMorgan Chase & Co. by 3.9% in the third quarter. Legacy Wealth Management LLC MS now owns 13,168 shares of the financial services provider's stock valued at $2,777,000 after buying an additional 500 shares during the period. Finally, DGS Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth $208,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.