JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 1.3% - Time to Sell?

Key Points

• JPMorgan Chase & Co. shares fell by 1.3%, closing at $297.50, with trading volume down 77% from average levels.
• Analyst ratings are mixed, with one Strong Buy, thirteen Buy, six Hold, and three Sell ratings, and a consensus price target of $288.68.
• The company reported earnings of $4.96 per share, exceeding expectations, but faced a 10.5% revenue decline year-over-year.

JPMorgan Chase & Co. (NYSE:JPM)'s share price was down 1.3% during trading on Tuesday . The stock traded as low as $294.50 and last traded at $297.50. Approximately 2,242,390 shares changed hands during trading, a decline of 77% from the average daily volume of 9,686,269 shares. The stock had previously closed at $301.42.

Analyst Ratings Changes

Several equities research analysts recently commented on JPM shares. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Truist Financial raised their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Trading Down 1.2%

The stock has a market cap of $819.02 billion, a PE ratio of 15.28, a PEG ratio of 2.00 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a fifty day moving average price of $292.05 and a 200 day moving average price of $265.36.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS 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 firm had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the previous year, the business earned $6.12 EPS. The company's quarterly revenue was down 10.5% on a year-over-year basis. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company's stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of large investors have recently bought and sold shares of JPM. Kingstone Capital Partners Texas LLC lifted its position in shares of JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock valued at $21,133,630,000 after acquiring an additional 72,885,260 shares in the last quarter. Geode Capital Management LLC grew its position in shares of JPMorgan Chase & Co. by 0.5% in the second quarter. Geode Capital Management LLC now owns 61,129,271 shares of the financial services provider's stock valued at $17,646,506,000 after purchasing an additional 300,160 shares in the last quarter. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $10,295,209,000. Bank of New York Mellon Corp grew its position in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after purchasing an additional 454,226 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

About JPMorgan Chase & Co.

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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