JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 0.8% – Here’s What Happened

Shares of JPMorgan Chase & Co. (NYSE:JPM) were down 0.8% during mid-day trading on Wednesday . The company traded as low as $242.68 and last traded at $242.97. Approximately 1,760,668 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 9,012,121 shares. The stock had previously closed at $244.82.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on JPM shares. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Evercore ISI boosted their price target 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. Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a research report on Tuesday. Royal Bank of Canada boosted 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 report on Monday, October 14th. Finally, Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $234.81.

JPMorgan Chase & Co. Stock Performance

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $685.20 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 3.57 and a beta of 1.11. The firm’s fifty day moving average price is $228.56 and its two-hundred day moving average price is $214.37.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping 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 company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the firm earned $4.33 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared 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. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.05%. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of JPM. Mizuho Securities Co. Ltd. acquired a new position in JPMorgan Chase & Co. in the third quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. in the third quarter valued at about $27,000. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. in the second quarter valued at about $32,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the second quarter valued at about $34,000. Finally, West Financial Advisors LLC acquired a new position in JPMorgan Chase & Co. in the third quarter valued at about $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.