JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 1.5% – What’s Next?

by · The Markets Daily

JPMorgan Chase & Co. (NYSE:JPM) shares dropped 1.5% on Thursday . The stock traded as low as $298.16 and last traded at $298.72. Approximately 7,429,546 shares traded hands during trading, a decline of 21% from the average daily volume of 9,346,377 shares. The stock had previously closed at $303.27.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a research note on Tuesday, September 30th. Loop Capital set a $310.00 price target on shares of JPMorgan Chase & Co. in a research report on Thursday, October 23rd. The Goldman Sachs Group reissued a “buy” rating and issued a $366.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. Wolfe Research upped their target price on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, Barclays raised their target price on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $326.38.

View Our Latest Stock Analysis on JPM

JPMorgan Chase & Co. Stock Performance

The company has a market cap of $810.74 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.84 and a beta of 1.14. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The company has a fifty day moving average of $307.43 and a two-hundred day moving average of $291.20.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same period last year, the company earned $4.37 earnings per share. The business’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were given a dividend of $1.50 per share. The ex-dividend date was Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the transaction, the insider directly owned 58,479 shares in the company, valued at $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.47% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

Several institutional investors have recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth about $26,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $28,000. University of Illinois Foundation acquired a new stake in JPMorgan Chase & Co. during the first quarter worth approximately $30,000. Mizuho Securities Co. Ltd. increased its holdings in JPMorgan Chase & Co. by 450.0% in the second quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 90 shares in the last quarter. Finally, Mountain Hill Investment Partners Corp. bought a new stake in JPMorgan Chase & Co. in the third quarter worth approximately $32,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Company Profile

(Get Free Report)

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.

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