JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 5.3% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s stock price traded down 5.3% during trading on Tuesday . The stock traded as low as $247.00 and last traded at $246.69. 4,515,096 shares were traded during mid-day trading, a decline of 47% from the average session volume of 8,597,702 shares. The stock had previously closed at $260.62.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent analyst reports. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research note on Friday, January 3rd. Bank of America raised their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Piper Sandler upped their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Finally, Truist Financial upped their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus price target of $251.78.

JPMorgan Chase & Co. Trading Down 4.1 %

The stock has a market cap of $698.85 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 2.83 and a beta of 1.12. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The business’s fifty day simple moving average is $258.99 and its 200 day simple moving average is $237.67.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period last year, the company earned $3.04 EPS. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is 25.33%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the transaction, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the transaction, the chief operating officer now directly owns 54,469 shares in the company, valued at $14,698,459.65. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,326 shares of company stock valued at $12,448,445. 0.79% of the stock is currently owned by insiders.

Institutional Trading of JPMorgan Chase & Co.

Several hedge funds have recently added to or reduced their stakes in JPM. Dogwood Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 16.3% in the fourth quarter. Dogwood Wealth Management LLC now owns 5,711 shares of the financial services provider’s stock valued at $1,369,000 after acquiring an additional 802 shares during the period. Smith Shellnut Wilson LLC ADV increased its stake in JPMorgan Chase & Co. by 9.8% during the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 2,011 shares of the financial services provider’s stock worth $482,000 after purchasing an additional 179 shares in the last quarter. Audent Global Asset Management LLC raised its holdings in JPMorgan Chase & Co. by 91.9% during the 4th quarter. Audent Global Asset Management LLC now owns 12,256 shares of the financial services provider’s stock worth $2,938,000 after buying an additional 5,869 shares during the period. BridgePort Financial Solutions LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $871,000. Finally, Park Square Financial Group LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $485,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.