JPMorgan Chase & Co. (NYSE:JPM) Trading Down 1.2% Following Analyst Downgrade

JPMorgan Chase & Co. (NYSE:JPM)’s stock price was down 1.2% during trading on Monday after Oppenheimer lowered their price target on the stock from $234.00 to $232.00. Oppenheimer currently has an outperform rating on the stock. JPMorgan Chase & Co. traded as low as $218.88 and last traded at $219.73. Approximately 2,838,222 shares traded hands during trading, a decline of 69% from the average daily volume of 9,117,551 shares. The stock had previously closed at $222.29.

A number of other brokerages have also weighed in on JPM. Royal Bank of Canada lifted their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday. 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 report on Wednesday, July 3rd. Piper Sandler boosted their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Scarborough Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $152,000. Gerber LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $844,000. Fisher Asset Management LLC boosted its position in JPMorgan Chase & Co. by 4.0% in the 4th quarter. Fisher Asset Management LLC now owns 11,836,898 shares of the financial services provider’s stock worth $2,013,457,000 after purchasing an additional 450,098 shares in the last quarter. Alamar Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $218,000. Finally, Willner & Heller LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $895,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

The stock’s fifty day moving average is $212.32 and its 200-day moving average is $203.88. The stock has a market capitalization of $636.02 billion, a PE ratio of 12.35, a P/E/G ratio of 3.28 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data 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 net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the firm posted $4.33 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $1.25 dividend. The ex-dividend date is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.26%. JPMorgan Chase & Co.’s payout ratio is 27.89%.

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.