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

JPMorgan Chase & Co. (NYSE:JPM) dropped 1.5% during mid-day trading on Friday . The company traded as low as $239.25 and last traded at $239.45. Approximately 3,369,940 shares traded hands during trading, a decline of 59% from the average daily volume of 8,165,853 shares. The stock had previously closed at $243.13.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on JPM shares. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Truist Financial assumed coverage on JPMorgan Chase & Co. in a report on Tuesday. They issued a “hold” rating and a $260.00 price objective for the company. Royal Bank of Canada raised their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup upped their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average target price of $245.83.

JPMorgan Chase & Co. Stock Down 0.8 %

The company has a market cap of $678.84 billion, a P/E ratio of 13.42, a PEG ratio of 3.54 and a beta of 1.11. The stock has a 50-day moving average of $241.25 and a 200 day moving average of $222.25. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same period last year, the firm earned $4.33 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 2.07%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC bought a new position in JPMorgan Chase & Co. in the third quarter valued at about $1,888,088,000. Fisher Asset Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 31.7% during the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after purchasing an additional 4,043,841 shares during the last quarter. Wulff Hansen & CO. increased its position in JPMorgan Chase & Co. by 19,920.7% during the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after purchasing an additional 2,787,510 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in JPMorgan Chase & Co. by 137.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock valued at $922,760,000 after purchasing an additional 2,535,590 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of JPMorgan Chase & Co. by 93.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock worth $567,669,000 after buying an additional 1,301,764 shares during the last quarter. 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.