JPMorgan Chase & Co. (NYSE:JPM) fell 1.5% during trading on Tuesday . The company traded as low as $353.23 and last traded at $353.3810. 5,600,315 shares were traded during trading, a decline of 40% from the average daily volume of 9,325,285 shares. The stock had previously closed at $358.64.
JPMorgan Chase & Co. News Roundup
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: Strong earnings and dividend capacity: JPMorgan’s recent quarterly profit reached $16.9 billion, while the dividend represents a manageable portion of earnings, supporting the bank’s income appeal and potential for continued shareholder distributions. JPMorgan Earned $16.9 Billion in 1 Quarter
- Positive Sentiment: Business expansion continues: JPMorgan is expanding its European corporate-banking presence into Greece and plans a 25% staffing increase there, creating longer-term growth opportunities, although the immediate financial impact is expected to be limited. JPMorgan European Hiring Expansion
- Positive Sentiment: Asset-management demand: J.P. Morgan Asset Management closed its first U.S. net-lease fund with $1.1 billion in commitments, indicating solid demand for income-oriented investment products and potential fee revenue. J.P. Morgan Asset Management Net-Lease Fund
Analysts Set New Price Targets
Several equities analysts have issued reports on JPM shares. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. Citigroup increased their target price on JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. UBS Group raised their target price on JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price target for the company in a report on Wednesday, July 22nd. Finally, Robert W. Baird upped their price target on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $359.96.
JPMorgan Chase & Co. Price Performance
The company has a market capitalization of $939.34 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 1.45 and a beta of 0.98. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30. The company has a 50 day moving average price of $351.41 and a 200 day moving average price of $321.57.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.55. The business had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The firm’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.96 earnings per share. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 24.28 earnings per share for the current year.
Insider Transactions at JPMorgan Chase & Co.
In other news, insider Robin Leopold sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $361.41, for a total value of $903,525.00. Following the transaction, the insider owned 73,547 shares of the company’s stock, valued at approximately $26,580,621.27. This trade represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the sale, the general counsel owned 40,961 shares of the company’s stock, valued at approximately $13,547,031.53. This represents a 11.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.41% of the company’s stock.
Institutional Trading of JPMorgan Chase & Co.
Institutional investors have recently bought and sold shares of the business. Bouchey Financial Group Ltd. increased its holdings in JPMorgan Chase & Co. by 2.1% in the second quarter. Bouchey Financial Group Ltd. now owns 8,495 shares of the financial services provider’s stock valued at $2,781,000 after purchasing an additional 172 shares during the last quarter. Core Capital Management & Research inc. acquired a new position in JPMorgan Chase & Co. in the second quarter valued at about $1,106,000. Tortoise Investment Management LLC boosted its holdings in JPMorgan Chase & Co. by 2.0% during the second quarter. Tortoise Investment Management LLC now owns 7,492 shares of the financial services provider’s stock worth $2,452,000 after buying an additional 146 shares during the last quarter. MCF Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 4.6% during the second quarter. MCF Advisors LLC now owns 28,017 shares of the financial services provider’s stock worth $9,171,000 after buying an additional 1,226 shares during the last quarter. Finally, Lotus Asset Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $379,000. Institutional investors and hedge funds 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, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.
The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.
JPMorgan Chase serves customers in the United States and maintains operations and client relationships across numerous international markets.
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