JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 0.7% – What’s Next?

by · The Cerbat Gem

Shares of JPMorgan Chase & Co. (NYSE:JPM) were down 0.7% during trading on Tuesday . The stock traded as low as $223.36 and last traded at $223.82. Approximately 1,748,464 shares were traded during trading, a decline of 81% from the average daily volume of 9,009,186 shares. The stock had previously closed at $225.50.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Oppenheimer lowered their target price on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Barclays lifted their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Piper Sandler increased their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Read Our Latest Stock Report on JPM

JPMorgan Chase & Co. Trading Down 0.8 %

The business’s 50 day moving average price is $215.96 and its two-hundred day moving average price is $206.15. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $633.65 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the prior year, the firm posted $4.33 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts forecast that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a $1.25 dividend. The ex-dividend date of this dividend is 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 yield of 2.25%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Institutional Trading of JPMorgan Chase & Co.

A number of large investors have recently added to or reduced their stakes in JPM. Catalyst Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at $27,000. Retirement Group LLC lifted its stake in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares in the last quarter. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $32,000. Richardson Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the first quarter worth approximately $34,000. Finally, Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $34,000. 71.55% of the stock is currently owned by institutional investors.

About JPMorgan Chase & Co.

(Get Free Report)

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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