JPMorgan Chase & Co. (NYSE:JPM) Short Interest Up 9.5% in August

JPMorgan Chase & Co. (NYSE:JPM) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 27,680,000 shares, a growth of 9.5% from the August 15th total of 25,290,000 shares. Based on an average trading volume of 9,100,000 shares, the days-to-cover ratio is currently 3.0 days. Currently, 1.0% of the shares of the company are sold short.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently modified their holdings of JPM. Verity & Verity LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.9% during the 2nd quarter. Verity & Verity LLC now owns 110,916 shares of the financial services provider’s stock valued at $22,434,000 after buying an additional 2,017 shares during the last quarter. SS&H Financial Advisors Inc. raised its position in JPMorgan Chase & Co. by 0.5% during the second quarter. SS&H Financial Advisors Inc. now owns 106,111 shares of the financial services provider’s stock valued at $21,462,000 after acquiring an additional 500 shares in the last quarter. Cannon Financial Strategists Inc. acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $336,000. Brightwater Advisory LLC bought a new stake in JPMorgan Chase & Co. in the second quarter worth approximately $485,000. Finally, Heritage Wealth Management Inc. bought a new stake in JPMorgan Chase & Co. in the second quarter worth approximately $6,982,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM traded down $1.72 during trading hours on Wednesday, hitting $207.53. 8,197,178 shares of the company were exchanged, compared to its average volume of 9,138,863. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $595.96 billion, a PE ratio of 11.65, a PEG ratio of 2.33 and a beta of 1.12. The firm has a fifty day simple moving average of $211.43 and a 200-day simple moving average of $201.36. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same quarter last year, the business posted $4.37 EPS. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. BMO Capital Markets boosted their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Evercore ISI raised their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Piper Sandler upped their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Barclays boosted their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $211.06.

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.