JPMorgan Chase & Co. (NYSE:JPM)’s share price traded down 2.5% on Wednesday . The stock traded as low as $295.75 and last traded at $299.0370. 11,463,150 shares changed hands during mid-day trading, an increase of 13% from the average session volume of 10,104,234 shares. The stock had previously closed at $306.74.
Key JPMorgan Chase & Co. News
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: JPMorgan reported strong quarterly results, beating earnings and revenue estimates, which supports the long-term investment case for JPM.
- Positive Sentiment: Jamie Dimon said JPMorgan could spend up to $20 billion on an acquisition, signaling the bank has capital and flexibility for strategic deals that could expand growth. Article Title
- Neutral Sentiment: JPMorgan said it is expanding AI hiring and automation efforts, which could improve efficiency over time but may also reshape the bank’s workforce. Article Title
- Neutral Sentiment: FDIC data showed stronger banking-sector profits and deposit growth, which is a supportive backdrop for large banks like JPMorgan, though it does not directly change near-term fundamentals. Article Title
- Negative Sentiment: Dimon warned that JPMorgan is “over-earning” and expects costs to rise, which raised concerns that profit margins may be less sustainable going forward.
- Negative Sentiment: Financial stocks were softer in afternoon trading, adding sector-wide pressure on JPM. Article Title
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. Argus boosted their target price on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Robert W. Baird set a $295.00 price objective on JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. HSBC upped their price objective on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company cut their price target on JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th. Fifteen analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $339.08.
JPMorgan Chase & Co. Trading Down 2.5%
The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. The company has a fifty day moving average of $301.79 and a two-hundred day moving average of $307.06. The stock has a market capitalization of $801.27 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 1.49 and a beta of 1.03.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping the consensus estimate of $5.50 by $0.44. The firm had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the company earned $5.07 earnings per share. On average, research analysts expect that JPMorgan Chase & Co. will post 22.43 EPS for the current year.
JPMorgan Chase & Co. Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is 28.74%.
Insiders Place Their Bets
In other news, insider Robin Leopold sold 433 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $295.06, for a total transaction of $127,760.98. Following the completion of the transaction, the insider directly owned 64,920 shares of the company’s stock, valued at approximately $19,155,295.20. This represents a 0.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total value of $1,641,876.36. Following the transaction, the general counsel directly owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. This trade represents a 10.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 28,589 shares of company stock valued at $8,747,496. Corporate insiders own 0.41% of the company’s stock.
Hedge Funds Weigh In On JPMorgan Chase & Co.
A number of large investors have recently modified their holdings of JPM. Morgan Stanley increased its stake in JPMorgan Chase & Co. by 1.4% in the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock valued at $21,390,662,000 after purchasing an additional 939,421 shares in the last quarter. Bank of America Corp DE increased its stake in JPMorgan Chase & Co. by 15.8% in the 1st quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider’s stock valued at $19,314,681,000 after purchasing an additional 8,941,351 shares in the last quarter. Norges Bank purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $11,396,496,000. Bank of New York Mellon Corp increased its stake in JPMorgan Chase & Co. by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock valued at $7,547,837,000 after purchasing an additional 1,194,583 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in JPMorgan Chase & Co. by 0.6% in the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock valued at $6,128,484,000 after purchasing an additional 110,586 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.
The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.
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