JPMorgan Chase & Co. (NYSE:JPM) Stock Falls 1.8% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM) shares dropped 1.8% during trading on Monday. The stock traded as low as $336.30 and last traded at $336.9180. 9,735,512 shares changed hands during trading, an increase of 5% from the average daily volume of 9,285,454 shares. The stock had previously closed at $343.06.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: HSBC raised its price target for JPMorgan from $369 to $377, implying meaningful upside from recent levels. However, HSBC maintained a “Hold” rating, limiting the bullish impact. HSBC Adjusts Price Target on JPMorgan Chase
• Positive Sentiment: JPMorgan’s dividend remains an investor support. The bank was highlighted among companies that recently increased dividends, with earnings and cash flow viewed as sufficient to support further payout growth. Dividend Stocks With Higher Yields and Room for More Payout Growth
• Neutral Sentiment: JPMorgan’s equity strategists turned more constructive on technology stocks, saying the recent technology and artificial-intelligence pullback has largely run its course and that investors may begin buying again. This could benefit JPMorgan’s markets and investment-banking activity, but it does not directly change current earnings expectations. JPMorgan Says Tech Sell-Off Has Run Its Course
• Neutral Sentiment: Jefferies reiterated a “Neutral” rating on JPMorgan, reinforcing the view that valuation and growth prospects are reasonably balanced. JPMorgan Neutral Rating Reiterated
• Negative Sentiment: JPMorgan’s warning about record diesel prices highlights renewed inflation risk. Persistent fuel-cost pressure could delay interest-rate cuts and weigh on economic activity, credit quality, and financial-market sentiment. JPMorgan Doubles Down on Diesel

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a research report on Wednesday, July 22nd. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Bank of America lifted their target price on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods boosted their target price on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Finally, HSBC upped their price target on JPMorgan Chase & Co. from $369.00 to $377.00 and gave the company a “hold” rating in a research note on Monday. Sixteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $363.29.

JPMorgan Chase & Co. Stock Performance

The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $895.59 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.41 and a beta of 0.98. The firm’s 50-day moving average price is $353.76 and its 200 day moving average price is $325.71.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. During the same period in the prior year, the business posted $4.96 earnings per share. JPMorgan Chase & Co.’s revenue was up 27.7% compared to the same quarter last year. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 24.3 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Tuesday, October 6th will be given a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.71%.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $352.81, for a total value of $882,025.00. Following the completion of the sale, the insider directly owned 71,047 shares of the company’s stock, valued at $25,066,092.07. This represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of JPM. Norges Bank bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $11,396,496,000. Bank of America Corp DE raised its holdings in JPMorgan Chase & Co. by 15.8% in the first quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider’s stock worth $19,314,681,000 after purchasing an additional 8,941,351 shares during the period. Ascentis Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. by 32,672.0% during the second quarter. Ascentis Wealth Management LLC now owns 4,647,071 shares of the financial services provider’s stock worth $1,521,126,000 after purchasing an additional 4,632,891 shares in the last quarter. Jupiter Topco LLC bought a new position in shares of JPMorgan Chase & Co. during the second quarter worth $1,274,097,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of JPMorgan Chase & Co. by 31.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,944,004 shares of the financial services provider’s stock valued at $2,042,648,000 after buying an additional 1,662,250 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.

The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across international markets.