JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 1.9% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s share price dropped 1.9% on Friday . The company traded as low as $301.23 and last traded at $303.6260. Approximately 10,279,809 shares traded hands during trading, an increase of 10% from the average daily volume of 9,382,522 shares. The stock had previously closed at $309.48.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Thursday. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, October 21st. Barclays boosted their price target on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Finally, Zacks Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.38.

JPMorgan Chase & Co. Price Performance

The stock has a market capitalization of $826.55 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. The business’s 50 day simple moving average is $307.34 and its two-hundred day simple moving average is $288.98. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $47.12 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same quarter in the prior year, the business posted $4.37 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were issued a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 966 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the completion of the sale, the insider owned 58,479 shares in the company, valued at approximately $18,240,769.68. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Harbor Asset Planning Inc. bought a new stake in JPMorgan Chase & Co. during the second quarter worth $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. during the first quarter worth about $30,000. Mizuho Securities Co. Ltd. increased its holdings in JPMorgan Chase & Co. by 450.0% during the second quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after buying an additional 90 shares during the last quarter. Finally, Mountain Hill Investment Partners Corp. bought a new stake in JPMorgan Chase & Co. in the third quarter worth about $32,000. 71.55% of the stock is owned by institutional investors.

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.