JPMorgan Chase & Co. (NYSE:JPM) Shares Down 1.4% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM) fell 1.4% on Tuesday . The company traded as low as $206.19 and last traded at $207.85. 2,264,068 shares were traded during mid-day trading, a decline of 75% from the average session volume of 9,135,622 shares. The stock had previously closed at $210.86.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on JPM shares. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $220.00 to $224.00 in a report on Monday. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Jefferies Financial Group upped their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Finally, Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $212.13.

JPMorgan Chase & Co. Stock Down 1.0 %

The firm has a market capitalization of $589.35 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The business’s 50-day moving average price is $211.39 and its 200-day moving average price is $202.88.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period in the prior year, the firm posted $4.37 EPS. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 16.72 EPS 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 paid a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.44%. JPMorgan Chase & Co.’s dividend payout ratio is 27.89%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of large investors have recently bought and sold shares of the business. Per Stirling Capital Management LLC. increased its stake in shares of JPMorgan Chase & Co. by 7.9% in the fourth quarter. Per Stirling Capital Management LLC. now owns 3,907 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 286 shares during the period. Exencial Wealth Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 3.4% in the fourth quarter. Exencial Wealth Advisors LLC now owns 29,767 shares of the financial services provider’s stock worth $5,063,000 after acquiring an additional 978 shares during the last quarter. Pinnacle West Asset Management Inc. increased its position in JPMorgan Chase & Co. by 6.3% during the fourth quarter. Pinnacle West Asset Management Inc. now owns 15,860 shares of the financial services provider’s stock worth $2,698,000 after acquiring an additional 945 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of JPMorgan Chase & Co. by 5.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,455,724 shares of the financial services provider’s stock valued at $1,098,119,000 after buying an additional 333,322 shares during the period. Finally, Morningstar Investment Services LLC grew its holdings in shares of JPMorgan Chase & Co. by 97.8% during the 4th quarter. Morningstar Investment Services LLC now owns 1,214,819 shares of the financial services provider’s stock worth $206,883,000 after purchasing an additional 600,580 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

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.