JPMorgan Chase & Co. (NYSE:JPM) Trading Down 2.7% – Here’s Why

Shares of JPMorgan Chase & Co. (NYSE:JPM) dropped 2.7% on Thursday . The stock traded as low as $226.23 and last traded at $228.10. Approximately 3,917,166 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 9,625,740 shares. The stock had previously closed at $234.34.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on JPM shares. Evercore ISI dropped their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 1st. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their target price for the company from $215.00 to $220.00 in a research note on Friday, March 7th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research note on Friday, January 3rd. Bank of America cut their price objective on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, UBS Group raised their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $254.83.

JPMorgan Chase & Co. Trading Down 2.4 %

The company has a market cap of $639.51 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm has a fifty day moving average of $250.33 and a two-hundred day moving average of $241.75.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same period in the prior year, the company posted $3.04 EPS. JPMorgan Chase & Co.’s revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

Insider Activity

In related news, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the sale, the chief operating officer now owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the transaction, the insider now directly owns 50,377 shares of the company’s stock, valued at $13,606,323.93. The trade was a 2.42 % decrease in their position. 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 over the last ninety days. Company insiders own 0.79% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

Hedge funds have recently bought and sold shares of the company. Redwood Park Advisors LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $29,000. Sellwood Investment Partners LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $34,000. Investment Counsel Co. of Nevada bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $37,000. Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $43,000. Finally, Prudent Man Investment Management Inc. bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $43,000. 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.