JPMorgan Chase & Co. (NYSE:JPM) Shares Down 1.2% Following Analyst Downgrade

JPMorgan Chase & Co. (NYSE:JPM) shares dropped 1.2% on Monday after Oppenheimer lowered their price target on the stock from $234.00 to $232.00. Oppenheimer currently has an outperform rating on the stock. JPMorgan Chase & Co. traded as low as $218.88 and last traded at $219.73. Approximately 2,838,222 shares changed hands during trading, a decline of 69% from the average daily volume of 9,117,551 shares. The stock had previously closed at $222.29.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Barclays raised their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Finally, Daiwa Capital Markets lowered their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $217.94.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Retirement Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares during the last quarter. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $32,000. Richardson Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $34,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at approximately $34,000. Finally, Davidson Capital Management Inc. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $37,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50-day moving average of $212.32 and a 200-day moving average of $203.88. The company has a market capitalization of $636.02 billion, a P/E ratio of 12.35, a P/E/G ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business earned $4.33 EPS. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.26%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

JPMorgan Chase & Co. Company Profile

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.