JPMorgan Chase & Co. (NYSE:JPM) Sees Significant Growth in Short Interest

JPMorgan Chase & Co. (NYSE:JPM) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 21,380,000 shares, a growth of 13.7% from the February 29th total of 18,810,000 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily volume of 8,820,000 shares, the short-interest ratio is presently 2.4 days.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. BMO Capital Markets upped their price objective on JPMorgan Chase & Co. from $192.00 to $194.00 and gave the company a “market perform” rating in a report on Tuesday, January 16th. Oppenheimer cut their target price on shares of JPMorgan Chase & Co. from $238.00 to $219.00 and set an “outperform” rating for the company in a research note on Tuesday, March 19th. Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Royal Bank of Canada reissued an “outperform” rating and set a $185.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, March 20th. Finally, Bank of America upped their target price on JPMorgan Chase & Co. from $177.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $181.63.

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JPMorgan Chase & Co. Price Performance

JPM traded down $0.11 during midday trading on Tuesday, reaching $198.83. 3,627,025 shares of the company’s stock were exchanged, compared to its average volume of 8,942,430. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $572.70 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 2.54 and a beta of 1.15. JPMorgan Chase & Co. has a one year low of $126.22 and a one year high of $200.94. The business has a 50-day simple moving average of $184.05 and a two-hundred day simple moving average of $164.86.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $3.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.73 by ($0.69). The business had revenue of $38.57 billion during the quarter, compared to the consensus estimate of $39.73 billion. JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.57 EPS. As a group, research analysts predict that JPMorgan Chase & Co. will post 15.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be issued a $1.15 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.89%.

Insiders Place Their Bets

In other news, Vice Chairman Peter Scher sold 1,812 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $166.65, for a total transaction of $301,969.80. Following the completion of the transaction, the insider now directly owns 46,766 shares of the company’s stock, valued at $7,793,553.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,812 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $166.65, for a total transaction of $301,969.80. Following the sale, the insider now owns 46,766 shares of the company’s stock, valued at approximately $7,793,553.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Dimon sold 821,778 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $150,163,493.94. Following the completion of the transaction, the chief executive officer now owns 595,316 shares of the company’s stock, valued at approximately $108,782,092.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 849,303 shares of company stock valued at $155,107,447. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently made changes to their positions in the stock. Valicenti Advisory Services Inc. grew its stake in JPMorgan Chase & Co. by 2.9% in the third quarter. Valicenti Advisory Services Inc. now owns 79,891 shares of the financial services provider’s stock valued at $11,586,000 after acquiring an additional 2,220 shares during the period. Hilltop Holdings Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 4.4% in the second quarter. Hilltop Holdings Inc. now owns 34,079 shares of the financial services provider’s stock valued at $4,956,000 after purchasing an additional 1,439 shares in the last quarter. TKG Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 97.6% during the third quarter. TKG Advisors LLC now owns 13,205 shares of the financial services provider’s stock worth $1,915,000 after buying an additional 6,521 shares during the period. Alley Investment Management Company LLC raised its position in JPMorgan Chase & Co. by 0.4% in the 3rd quarter. Alley Investment Management Company LLC now owns 126,913 shares of the financial services provider’s stock valued at $18,405,000 after buying an additional 530 shares during the last quarter. Finally, Allen Investment Management LLC lifted its stake in JPMorgan Chase & Co. by 15.8% in the 3rd quarter. Allen Investment Management LLC now owns 174,738 shares of the financial services provider’s stock valued at $25,341,000 after acquiring an additional 23,894 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Company Profile

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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.

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