JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 1.5% – Time to Sell?

JPMorgan Chase & Co. (NYSE:JPM)’s share price dropped 1.5% during trading on Tuesday . The company traded as low as $353.23 and last traded at $353.3810. 5,600,315 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 9,325,285 shares. The stock had previously closed at $358.64.

Key Stories Impacting JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan’s strong fundamentals remain a support: its latest quarter substantially exceeded consensus expectations, with $6.14 in earnings per share and $58.02 billion in revenue, while revenue grew 27.7% year over year.
• Positive Sentiment: Zacks continues to highlight JPMorgan as a long-term investment candidate based on its earnings outlook and inclusion in its Focus List. Why JPMorgan Chase Is a Top Stock for the Long-Term
• Positive Sentiment: The bank appointed its Asia-Pacific and EMEA technology investment-banking chiefs as international co-heads, reinforcing its global technology coverage and potentially supporting future advisory revenue. JPMorgan Names International Technology Investment-Banking Co-Heads
• Neutral Sentiment: JPMorgan-related articles about healthcare ETF flows, FedEx Freight, and other companies reflect the firm’s research and investment-banking activities rather than new financial guidance for JPMorgan itself.
• Neutral Sentiment: JPMorgan’s market strategists remain constructive on buying stock-market weakness, but this is commentary on broader markets and does not directly change the bank’s earnings outlook. JPMorgan Strategist Says Buy the Dip
• Negative Sentiment: Analysts warn that fading capital-markets momentum in the third quarter could produce uneven results for major banks, including JPMorgan, raising concern about investment-banking and trading revenue. Capital Markets Momentum Fades
• Negative Sentiment: A recent analysis recommends accumulating JPMorgan’s preferred shares for income while holding the common stock at its elevated valuation of roughly 3.2 times book value, suggesting limited upside and valuation-related profit-taking pressure. JPMorgan Preferred Versus Common Stock Analysis

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on JPM shares. UBS Group increased their target price on JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Barclays raised their price target on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Royal Bank Of Canada increased their price objective on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. Finally, Zacks Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $359.96.

JPMorgan Chase & Co. Trading Down 1.5%

The business’s fifty day simple moving average is $350.46 and its 200 day simple moving average is $320.92. The stock has a market cap of $939.35 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business had revenue of $58.02 billion during the quarter, compared to analyst estimates of $50.72 billion. During the same quarter last year, the business posted $4.96 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 27.7% compared to the same quarter last year. As a group, analysts expect that JPMorgan Chase & Co. will post 24.28 EPS for the current year.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,467 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the transaction, the general counsel owned 40,961 shares in the company, valued at $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $361.41, for a total value of $903,525.00. Following the completion of the sale, the insider owned 73,547 shares of the company’s stock, valued at approximately $26,580,621.27. The trade was a 3.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently modified their holdings of JPM. Timmons Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth $27,000. MBM Wealth Consultants LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $29,000. Caitong International Asset Management Co. Ltd bought a new position in JPMorgan Chase & Co. during the fourth quarter worth about $32,000. Aventus Investment Advisors Inc. bought a new position in JPMorgan Chase & Co. during the 2nd quarter worth approximately $33,000. Finally, Osbon Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $35,000. 71.55% of the stock is owned by institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.