Short Interest in JPMorgan Chase & Co. (NYSE:JPM) Grows By 9.5%

JPMorgan Chase & Co. (NYSE:JPM) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 27,680,000 shares, an increase of 9.5% from the August 15th total of 25,290,000 shares. Based on an average daily trading volume, of 9,100,000 shares, the days-to-cover ratio is currently 3.0 days. Currently, 1.0% of the shares of the stock are sold short.

JPMorgan Chase & Co. Trading Down 0.8 %

Shares of JPM traded down $1.72 during trading hours on Wednesday, hitting $207.53. The stock had a trading volume of 8,197,178 shares, compared to its average volume of 9,138,863. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48. The firm has a market cap of $595.96 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.33 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The company’s fifty day simple moving average is $211.43 and its 200 day simple moving average is $201.36.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. During the same period last year, the business posted $4.37 EPS. Equities research analysts forecast that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on JPM shares. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Robert W. Baird increased their target price on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Evercore ISI boosted their price target on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. UBS Group increased their price objective on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Finally, Jefferies Financial Group boosted their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $211.06.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several institutional investors have recently bought and sold shares of JPM. Norges Bank acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $6,016,878,000. Swedbank AB acquired a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $800,130,000. Capital Research Global Investors increased its stake in JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after buying an additional 3,252,451 shares during the period. Wulff Hansen & CO. boosted its position in JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after buying an additional 2,787,510 shares during the last quarter. Finally, Capital International Investors grew its stake in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after acquiring an additional 2,128,478 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.