JPMorgan Chase & Co. (NYSE:JPM) dropped 1.1% during trading on Thursday . The company traded as low as $341.11 and last traded at $343.0250. Approximately 12,328,239 shares traded hands during mid-day trading, an increase of 21% from the average session volume of 10,187,672 shares. The stock had previously closed at $346.91.
JPMorgan Chase & Co. News Roundup
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income — Up 41% — and CEO Jamie Dimon Said the Economy Is “Close to as Good as It Gets.”
- Positive Sentiment: Analysts have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
- Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
- Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
- Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
- Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon
Wall Street Analyst Weigh In
Several research firms have recently issued reports on JPM. UBS Group lifted their price target on JPMorgan Chase & Co. from $375.00 to $384.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $360.00 to $375.00 and gave the company an “overweight” rating in a research note on Wednesday. DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Bank of America lifted their target price on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $418.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $354.92.
JPMorgan Chase & Co. Stock Performance
The business has a fifty day simple moving average of $319.11 and a two-hundred day simple moving average of $310.31. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The company has a market cap of $915.33 billion, a P/E ratio of 14.64, a P/E/G ratio of 1.54 and a beta of 0.99.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same period in the previous year, the company posted $5.07 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 23.24 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. Investors of record on Monday, July 6th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is 25.71%.
Insider Buying and Selling at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the sale, the general counsel directly owned 40,961 shares of the company’s stock, valued at approximately $13,547,031.53. This represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of the transaction, the chief operating officer owned 85,082 shares in the company, valued at $26,326,072.44. The trade was a 5.47% 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. Over the last ninety days, insiders sold 18,876 shares of company stock valued at $5,907,051. Insiders own 0.41% of the company’s stock.
Hedge Funds Weigh In On JPMorgan Chase & Co.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC raised its position in shares of JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after purchasing an additional 4,841 shares during the period. Acorns Advisers LLC increased its stake in JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after buying an additional 100 shares in the last quarter. Ignite Planners LLC increased its stake in JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock worth $3,185,000 after buying an additional 78 shares in the last quarter. Jump Financial LLC bought a new stake in JPMorgan Chase & Co. during the second quarter valued at about $1,475,000. Finally, Betterment LLC raised its holdings in JPMorgan Chase & Co. by 27.5% during the second quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock valued at $571,000 after acquiring an additional 425 shares during the period. 71.55% of the stock is currently 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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