JPMorgan Chase & Co. (NYSE:JPM) Shares Down 1.1% - Should You Sell?

Key Points

• JPMorgan Chase & Co. shares fell 1.1%, closing at $293.83 after trading between $290.54 and $297.09, with a drop in volume of 21% compared to the average.
• The company's recent quarterly earnings exceeded expectations, reporting $5.07 EPS and $46.43 billion in revenue, marking an 8.8% increase compared to last year.
• JPMorgan Chase & Co. announced an increase in its quarterly dividend from $1.40 to $1.50, representing an annualized dividend of $6.00 and a yield of 2.0%.

JPMorgan Chase & Co. (NYSE:JPM)'s stock price dropped 1.1% during mid-day trading on Wednesday . The company traded as low as $290.54 and last traded at $293.83. Approximately 7,575,818 shares traded hands during trading, a decline of 21% from the average daily volume of 9,554,645 shares. The stock had previously closed at $297.09.

Analyst Ratings Changes

JPM has been the topic of a number of research reports. Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 16th. Morgan Stanley increased their price objective on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 15th. Bank of America increased their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Finally, Wolfe Research increased their price objective on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an "outperform" rating in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $322.86.

JPMorgan Chase & Co. Stock Down 1.1%

The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The firm has a fifty day moving average price of $303.16 and a 200 day moving average price of $279.88. The firm has a market capitalization of $807.96 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.83 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. The business had revenue of $46.43 billion during the quarter, compared to analysts' expectations of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $4.37 EPS. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is 29.72%.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Peterson Wealth Advisors LLC increased its position in JPMorgan Chase & Co. by 1.6% during the third quarter. Peterson Wealth Advisors LLC now owns 2,063 shares of the financial services provider's stock worth $635,000 after buying an additional 33 shares in the last quarter. TradeWell Securities LLC. increased its position in JPMorgan Chase & Co. by 0.3% during the third quarter. TradeWell Securities LLC. now owns 12,333 shares of the financial services provider's stock worth $3,832,000 after buying an additional 34 shares in the last quarter. Sharkey Howes & Javer increased its position in JPMorgan Chase & Co. by 1.9% during the third quarter. Sharkey Howes & Javer now owns 1,785 shares of the financial services provider's stock worth $563,000 after buying an additional 34 shares in the last quarter. JFS Wealth Advisors LLC increased its position in JPMorgan Chase & Co. by 0.4% during the second quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider's stock worth $2,290,000 after buying an additional 35 shares in the last quarter. Finally, Cottonwood Capital Advisors LLC increased its position in JPMorgan Chase & Co. by 0.9% during the second quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider's stock worth $1,112,000 after buying an additional 35 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

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