JPMorgan Chase & Co. (NYSE:JPM) Trading Down 2.8% - Time to Sell?

Key Points

• JPMorgan Chase & Co.'s stock price decreased by 2.8%, trading at approximately $295.37, with a significant drop in trading volume by 69% compared to its average.
• Recent analyst ratings show a mixed assessment, with Robert W. Baird downgrading JPMorgan from "neutral" to "underperform," while others maintain a "buy" rating and an average price target of $291.67.
• In its latest quarterly earnings report, JPMorgan reported $4.96 EPS, exceeding expectations, but its revenue declined by 10.5% year-over-year to $44.91 billion.

JPMorgan Chase & Co. (NYSE:JPM)'s stock price was down 2.8% during mid-day trading on Friday . The company traded as low as $294.53 and last traded at $295.37. Approximately 2,950,242 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 9,635,074 shares. The stock had previously closed at $303.82.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on JPM shares. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research note on Friday, June 27th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target on the stock. Finally, Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $291.67.

JPMorgan Chase & Co. Stock Performance

The stock has a market capitalization of $810.59 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 1.99 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock's 50-day simple moving average is $293.01 and its 200 day simple moving average is $266.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same period in the previous year, the business earned $6.12 earnings per share. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. Analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company's stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several large investors have recently bought and sold shares of the company. Florida Financial Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 62.5% during the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after purchasing an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $471,000. Crown Wealth Group LLC raised its position in shares of JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after purchasing an additional 222 shares during the period. Mosaic Financial Group LLC increased its position in 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 worth $2,280,000 after acquiring an additional 78 shares during the period. Finally, Morse Asset Management Inc increased its position in JPMorgan Chase & Co. by 19.5% during 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. 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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