JPMorgan Chase & Co. (NYSE:JPM) Shares Down 0.5% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) was down 0.5% during mid-day trading on Tuesday . The company traded as low as $248.34 and last traded at $249.02. Approximately 1,787,954 shares changed hands during trading, a decline of 80% from the average daily volume of 9,065,977 shares. The stock had previously closed at $250.29.

Wall Street Analyst Weigh In

A number of brokerages recently commented on JPM. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Barclays upped their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada upped their price target 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. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Stock Performance

The firm has a market capitalization of $704.26 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 3.61 and a beta of 1.10. The company has a 50-day moving average of $223.99 and a 200-day moving average of $212.38. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.33 earnings per share. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.00%. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mizuho Securities Co. Ltd. bought a new stake in JPMorgan Chase & Co. in the third quarter valued at $25,000. Catalyst Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $27,000. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. during the 2nd quarter worth approximately $32,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. in the second quarter worth approximately $34,000. Finally, West Financial Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the third quarter valued at approximately $37,000. Institutional investors and hedge funds 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.