JPMorgan Chase & Co. (NYSE:JPM) Shares Down 0.8%

JPMorgan Chase & Co. (NYSE:JPM)’s stock price dropped 0.8% during mid-day trading on Wednesday . The company traded as low as $207.16 and last traded at $207.59. Approximately 1,347,571 shares traded hands during trading, a decline of 85% from the average daily volume of 9,100,810 shares. The stock had previously closed at $209.25.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of analyst reports. Jefferies Financial Group increased their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Barclays increased their target price on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Evercore ISI increased their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Citigroup increased their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.06.

JPMorgan Chase & Co. Stock Performance

The firm has a market cap of $604.43 billion, a P/E ratio of 11.74, a P/E/G ratio of 2.33 and a beta of 1.12. 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’s 50 day moving average is $211.49 and its 200 day moving average is $201.47.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter in the prior year, the firm earned $4.37 EPS. As a group, equities analysts predict that JPMorgan Chase & Co. will post 16.78 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. Stockholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 25.66%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently made changes to their positions in the stock. Instrumental Wealth LLC lifted its holdings in shares of JPMorgan Chase & Co. by 4.5% in the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after acquiring an additional 47 shares during the last quarter. Gemmer Asset Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.6% in the 2nd quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after acquiring an additional 48 shares during the last quarter. Great Point Wealth Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.9% in the 2nd quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock worth $1,151,000 after acquiring an additional 48 shares during the last quarter. Northside Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock worth $1,365,000 after acquiring an additional 50 shares during the last quarter. Finally, Highland Financial Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Highland Financial Advisors LLC now owns 7,056 shares of the financial services provider’s stock worth $1,427,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

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.