JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 2.6% - Should You Sell?

Key Points

• JPMorgan shares fell 2.6% in mid-day trading, with volume jumping to 17.4 million shares, well above the daily average. The stock traded between $330.13 and $339.22, reflecting a sharp but not unusual intraday move.
• Analysts remain mixed but generally constructive: the stock carries an average rating of “Hold” with an average price target of $345.33, while several firms recently raised their targets. That suggests Wall Street still sees some upside despite the recent pullback.
• Fundamentals and shareholder returns remain strong, as JPMorgan most recently beat earnings expectations and announced a quarterly dividend of $1.50 per share. The company also continues a large buyback program, supporting confidence in its capital strength.

JPMorgan Chase & Co. (NYSE:JPM) dropped 2.6% during mid-day trading on Wednesday . The stock traded as low as $330.13 and last traded at $330.3690. 17,408,581 shares were traded during mid-day trading, an increase of 72% from the average daily volume of 10,136,662 shares. The stock had previously closed at $339.22.

More JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan is expanding its investment-banking push into smaller companies, including a new small-cap unit and a broader mid-cap effort, which could open a new fee-generating revenue stream. JPMorgan’s (JPM) Investment Banking Unit Targets Smaller Companies
• Positive Sentiment: The bank’s planned dividend hike and massive share repurchase program are reinforcing confidence in JPMorgan’s capital strength and shareholder returns. Why JPMorgan’s (JPM) Dividend Hike and $50 Billion Buyback Make It a Strong Capital-Return Tax Case
• Positive Sentiment: Multiple Wall Street firms raised price targets on JPMorgan, suggesting analysts see additional upside heading into earnings. JPMorgan Chase & Co. NYSE: JPM Price Target Raised to $384.00 at UBS Group
• Positive Sentiment: Investors are betting that upcoming quarterly results will benefit from strong trading and advisory activity, which could support another earnings beat. Trading surge, helped by SpaceX IPO, seen lifting Wall St banks' second-quarter earnings
• Neutral Sentiment: Options traders are pricing in a sizable move around earnings, reflecting heightened expectations but not a clear directional catalyst yet. JPMorgan Chase: Here's One Trade To Consider As Earnings Approach
• Neutral Sentiment: JPMorgan’s CEO is still pushing for tougher stablecoin-yield restrictions, which is a policy battle to watch but not an immediate earnings driver. Jamie Dimon Said JPMorgan Will Fight Stablecoin Yield Rules in the CLARITY Act Before Congress Breaks for Its August Recess.

Analysts Set New Price Targets

JPM has been the subject of several research reports. The Goldman Sachs Group set a $361.00 price objective on JPMorgan Chase & Co. in a research report on Tuesday, April 14th. Morgan Stanley raised their price target on JPMorgan Chase & Co. from $336.00 to $362.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. HSBC boosted their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a report on Monday, May 4th. Piper Sandler increased their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Finally, Jefferies Financial Group reiterated a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Thursday, June 25th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $345.33.

JPMorgan Chase & Co. Price Performance

The company has a 50-day moving average of $314.47 and a two-hundred day moving average of $309.35. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $885.23 billion, a PE ratio of 15.82, a P/E/G ratio of 1.54 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating the consensus estimate of $5.50 by $0.44. The company had revenue of $50.54 billion during the quarter, compared to analysts' expectations of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm's revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.07 EPS. Sell-side analysts predict that JPMorgan Chase & Co. will post 22.76 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.74%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,468 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the sale, the general counsel directly owned 46,428 shares of the company's stock, valued at $13,940,935.56. The trade was a 10.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of the company's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total value of $2,800,732.16. Following the sale, the chief operating officer owned 90,001 shares of the company's stock, valued at approximately $27,590,706.56. The trade was a 9.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 33,623 shares of company stock worth $10,427,835 in the last quarter. 0.41% of the stock is owned by insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Large investors have recently modified their holdings of the company. Timmons Wealth Management LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $27,000. MBM Wealth Consultants LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $32,000. Osbon Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $35,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter worth $35,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co NYSE: JPM is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm's principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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