JPMorgan Chase & Co. (NYSE:JPM) Shares Down 2.4% - Should You Sell?

Key Points

• JPMorgan Chase & Co. shares fell by 2.4%, reaching a last traded price of $289.28, indicating a significant drop from their previous closing value of $296.24.
• Analysts have mixed views on the stock, with Bank of America raising its price target to $340 while Baird R W downgraded it to a "strong sell", contributing to an overall "Moderate Buy" rating from market analysts.
• The company recently announced a quarterly dividend of $1.40, which translates to a 1.9% yield, reflecting a payout ratio of 28.73% amid a challenging earnings landscape with a reported revenue decline of 10.5% year-over-year.

Shares of JPMorgan Chase & Co. (NYSE:JPM) dropped 2.4% on Friday . The company traded as low as $284.24 and last traded at $289.28. Approximately 3,169,251 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 10,070,345 shares. The stock had previously closed at $296.24.

Analysts Set New Price Targets

JPM has been the topic of a number of analyst reports. Bank of America increased their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Trading Down 2.2%

The company has a market cap of $804.94 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 2.02 and a beta of 1.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The firm has a fifty day moving average price of $280.47 and a 200 day moving average price of $261.28.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The company had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter last year, the firm earned $6.12 earnings per share. The company's revenue was down 10.5% on a year-over-year basis. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were issued a $1.40 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Insider Buying and Selling

In related news, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the sale, the chief financial officer directly owned 18,017 shares in the company, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,200 shares of company stock valued at $18,060,015. Insiders own 0.47% of the company's stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in JPMorgan Chase & Co. by 20.2% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 437,514 shares of the financial services provider's stock valued at $126,840,000 after purchasing an additional 73,400 shares during the period. Advisory Alpha LLC grew its stake in JPMorgan Chase & Co. by 1.8% in the 2nd quarter. Advisory Alpha LLC now owns 13,044 shares of the financial services provider's stock valued at $3,782,000 after purchasing an additional 236 shares during the period. Rossby Financial LCC grew its stake in JPMorgan Chase & Co. by 18.2% in the 2nd quarter. Rossby Financial LCC now owns 4,895 shares of the financial services provider's stock valued at $1,419,000 after purchasing an additional 752 shares during the period. SYM FINANCIAL Corp grew its stake in shares of JPMorgan Chase & Co. by 62.4% during the 2nd quarter. SYM FINANCIAL Corp now owns 10,108 shares of the financial services provider's stock worth $2,930,000 after acquiring an additional 3,884 shares during the period. Finally, Facet Wealth Inc. raised its holdings in shares of JPMorgan Chase & Co. by 43.3% in the 2nd quarter. Facet Wealth Inc. now owns 5,060 shares of the financial services provider's stock valued at $1,499,000 after acquiring an additional 1,529 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

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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