JPMorgan Chase & Co. (NYSE:JPM) Shares Down 0.7% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) dropped 0.7% during mid-day trading on Friday . The company traded as low as $240.93 and last traded at $241.50. Approximately 889,141 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 9,029,898 shares. The stock had previously closed at $243.14.

Analysts Set New Price Targets

Several research firms have commented on JPM. Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Daiwa Capital Markets decreased their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a research note on Thursday, November 7th. Finally, Barclays boosted their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus price target of $234.81.

JPMorgan Chase & Co. Stock Performance

The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $677.68 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The company has a fifty day moving average of $237.75 and a two-hundred day moving average of $219.08.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $41.43 billion. During the same quarter in the previous year, the company posted $4.33 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently bought and sold shares of JPM. Mizuho Securities Co. Ltd. acquired a new position in shares of JPMorgan Chase & Co. in the third quarter worth $25,000. Catalyst Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $27,000. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $32,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the second quarter worth approximately $34,000. Finally, West Financial Advisors LLC bought a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at $37,000. Hedge funds and other institutional investors 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.