JPMorgan Chase & Co. (NYSE:JPM) Shares Down 0.6% - Here's What Happened

On Monday, shares of JPMorgan Chase & Co. (NYSE:JPM) fell by 0.6%. The stock was traded at a low of $237.52 and was last seen at $238.61. During midday trading, a total of 2,007,089 shares exchanged hands, reflecting a substantial decrease of 78% from the average trading volume of 8,962,407 shares. The previous closing price for the stock was $239.94.

Analysts Set New Price Targets

JPMorgan has been featured in several analyst reports recently. Notably, Robert W. Baird downgraded the company's stock from a "neutral" rating to an "underperform" rating, establishing a price target of $200.00. This announcement was made in a research note dated November 7. Meanwhile, on September 30, Morgan Stanley changed its rating on JPM from "overweight" to "equal weight," while also raising its price target from $220.00 to $224.00.

Additionally, Evercore ISI increased its price target for JPM from $217.00 to $230.00 and assigned an "outperform" rating in a note on October 14. Citigroup also made headlines by raising its price objective from $215.00 to $250.00, giving the stock a "neutral" rating in a report dated November 19. Conversely, Daiwa Capital Markets reduced its target price on JPM from $240.00 to $235.00, maintaining an "overweight" status in a report released on October 10.

At present, two analysts have assigned a sell rating to the stock, eight have issued a hold rating, and ten have given it a buy rating. MarketBeat.com indicates that JPMorgan Chase & Co. has an average rating of "Hold" and a consensus price target of $234.81.

JPMorgan Chase & Co. Stock Details

The company maintains a debt-to-equity ratio of 1.27, a quick ratio of 0.89, and a current ratio also of 0.89. The stock is currently trading at a fifty-day moving average price of $234.09 and a 200-day moving average price of $216.90. With a market capitalization of $674.50 billion, the stock has a P/E ratio of 13.33 and a price-to-earnings-growth ratio of 3.54, with a beta of 1.11.

JPMorgan Chase & Co. last announced its earnings results on October 11, revealing earnings per share (EPS) of $4.37 for the quarter, which surpassed the consensus estimate of $4.02 by $0.35. The company also witnessed a return on equity of 16.71% and a net margin of 19.64%. Total revenue for the quarter was reported at $43.32 billion, exceeding analyst expectations of $41.43 billion. This figure reflects an increase of 6.5% from the same quarter the previous year. Analysts predict that the company will report an EPS of 17.62 for the current year.

Dividend Announcement

JPMorgan Chase recently declared a quarterly dividend of $1.25 per share, which is scheduled for payment on January 31. Stockholders on record by January 6 will receive this dividend. The ex-dividend date is also set for January 6, representing an annualized dividend of $5.00 and a yield of 2.09%. The company's dividend payout ratio stands at 27.82%.

Institutional Trading Activity

There has been notable activity from hedge funds regarding their positions in JPMorgan Chase. Financial Avengers Inc. increased its holdings in JPM by 5.2% during the third quarter and now owns 868 shares valued at $183,000 after acquiring an additional 43 shares. One Charles Private Wealth Services LLC raised its stake by 0.4%, possessing 12,179 shares valued at $2,568,000 after buying 44 more shares in the same period. Henrickson Nauta Wealth Advisors Inc. also increased its position by 1.3%, now having 3,436 shares worth $725,000 after purchasing 45 shares recently. Moreover, Sunburst Financial Group LLC and West Wealth Group LLC raised their stakes by 0.8% and 3.6%, respectively. Institutional investors hold approximately 71.55% of JPMorgan Chase's stock.JPMorgan, Stocks, Dividend, Earnings, Analysts