JPMorgan Chase & Co. (NYSE:JPM) Trading Down 1.9% - Here's Why

JPMorgan Chase & Co. (NYSE:JPM)'s stock price fell 1.9% during mid-day trading on Friday . The company traded as low as $243.55 and last traded at $243.34. 2,404,457 shares were traded during mid-day trading, a decline of 73% from the average session volume of 8,861,812 shares. The stock had previously closed at $248.12.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on JPM. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Wolfe Research raised JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 price target on the stock in a research report on Friday, January 3rd. Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Truist Financial increased their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a "hold" rating in a research note on Thursday, January 16th. Finally, Baird R W raised JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research report on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and a consensus target price of $252.89.

JPMorgan Chase & Co. Stock Performance

The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $679.36 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The stock's 50-day simple moving average is $257.55 and its 200 day simple moving average is $240.54.

Remove Ads

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping analysts' consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period in the prior year, the company earned $3.04 EPS. JPMorgan Chase & Co.'s revenue for the quarter was up 10.9% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.'s payout ratio is currently 28.37%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares in the company, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the sale, the chief operating officer now directly owns 54,469 shares of the company's stock, valued at $14,698,459.65. This trade represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,848 shares of company stock worth $19,987,908 in the last 90 days. Corporate insiders own 0.79% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at about $8,310,884,000. Northern Trust Corp grew its holdings in JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. Proficio Capital Partners LLC increased its stake in JPMorgan Chase & Co. by 34,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider's stock valued at $838,865,000 after purchasing an additional 3,489,314 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock worth $2,561,256,000 after purchasing an additional 2,551,899 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of JPMorgan Chase & Co. by 137.8% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider's stock worth $922,760,000 after purchasing an additional 2,535,590 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.