JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 1.7% - Here's Why

Key Points

• JPMorgan Chase & Co. experienced a stock price decline of 1.7%, trading at $297.09, significantly lower than its previous close of $302.36.
• Despite the stock's drop, multiple analysts have issued positive reports, with updated price targets ranging up to $354.00 and a consensus rating of "Hold."
• The company announced a quarterly dividend increase to $1.50 per share, up from $1.40, with an annualized yield of 2.0% and a payout ratio of 29.72%.

JPMorgan Chase & Co. (NYSE:JPM)'s stock price fell 1.7% on Tuesday . The company traded as low as $297.00 and last traded at $297.09. 7,302,547 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 9,554,089 shares. The stock had previously closed at $302.36.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on JPM shares. Truist Financial raised their price objective on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a report on Tuesday, September 23rd. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an "outperform" rating in a research note on Friday, October 10th. Daiwa Capital Markets upped their price objective on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an "outperform" rating in a research note on Wednesday, October 8th. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Fifteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of "Hold" and an average target price of $322.86.

JPMorgan Chase & Co. Stock Down 1.7%

The stock has a market capitalization of $816.92 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The stock has a fifty day moving average price of $303.07 and a 200 day moving average price of $279.76.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed 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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 29.72%.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by insiders.

Institutional Trading of JPMorgan Chase & Co.

Institutional investors have recently made changes to their positions in the stock. Florida Financial Advisors LLC increased its holdings in JPMorgan Chase & Co. by 62.5% during the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after purchasing an additional 3,792 shares during the period. Crown Wealth Group LLC grew its position in shares of JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after buying an additional 222 shares during the last quarter. Mosaic Financial Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.8% during the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock valued at $2,280,000 after acquiring an additional 78 shares in the last quarter. Morse Asset Management Inc lifted its stake in JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after acquiring an additional 420 shares during the period. Finally, Hidden Cove Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after acquiring an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

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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