JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) shares traded up 2.2% during trading on Monday. The company traded as high as $343.67 and last traded at $341.9510. Approximately 6,859,177 shares traded hands during trading, a decline of 24% from the average daily volume of 9,040,896 shares. The stock had previously closed at $334.49.
Latest JPMorgan Chase & Co. News
Investors following JPM have been watching these news items:
- Positive Sentiment: JPMorgan is also reportedly among the banks Alphabet selected for a potential dual-currency bond offering in Hong Kong and Singapore dollars, adding another prospective capital-markets mandate. Alphabet Taps HSBC and JPMorgan for Bond Offering
- Neutral Sentiment: A report says JPMorgan may sell about $2 billion of Qualtrics-related debt at roughly 85 cents on the dollar. The sale could reduce exposure, but the article does not establish the size of any potential loss or its effect on JPMorgan’s results. JPMorgan May Sell Qualtrics Debt
Analyst Ratings Changes
JPM has been the topic of a number of research reports. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $420.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, October 14th. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, October 8th. They issued a “hold” rating and a $370.00 price objective on the stock. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $395.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Finally, Wall Street Zen lowered JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $368.33.
View Our Latest Report on JPMorgan Chase & Co.
JPMorgan Chase & Co. Stock Performance
The company’s 50 day simple moving average is $341.28 and its 200 day simple moving average is $324.17. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $911.80 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.03.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $5.75 EPS for the quarter, missing analysts’ consensus estimates of $5.94 by ($0.19). The business had revenue of $50.17 billion for the quarter, compared to the consensus estimate of $51.23 billion. JPMorgan Chase & Co. had a return on equity of 18.48% and a net margin of 21.85%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $5.07 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 23.95 earnings per share for the current year.
JPMorgan Chase & Co. Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Stockholders of record on Tuesday, October 6th were given a dividend of $1.65 per share. The ex-dividend date of this dividend was Tuesday, October 6th. This represents a $6.60 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. JPMorgan Chase & Co.’s payout ratio is currently 27.68%.
Insider Buying and Selling at JPMorgan Chase & Co.
In related news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $352.81, for a total value of $882,025.00. Following the completion of the sale, the insider owned 71,047 shares of the company’s stock, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.41% of the company’s stock.
Institutional Trading of JPMorgan Chase & Co.
Several hedge funds and other institutional investors have recently modified their holdings of JPM. Horizons Wealth Management purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter worth about $31,000. Aventus Investment Advisors Inc. bought a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $33,000. Team Financial Group LLC purchased a new position in JPMorgan Chase & Co. during the third quarter valued at approximately $50,000. Timbuktu Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter worth approximately $50,000. Finally, NI Acquisitions Company LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter worth approximately $51,000. Institutional investors own 71.55% of the company’s stock.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. is a global financial services company serving consumers, businesses, institutional clients and governments. Its operations include consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. The company offers services such as deposit accounts, credit cards, mortgages, auto financing, lending, payment processing and investment advice. It also provides institutional clients with investment banking, markets, treasury and securities services, and commercial lending.
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