JPMorgan Chase & Co. (NYSE:JPM) Short Interest Update

JPMorgan Chase & Co. (NYSE:JPM) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 23,610,000 shares, a drop of 19.3% from the February 28th total of 29,240,000 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average trading volume of 10,360,000 shares, the short-interest ratio is presently 2.3 days.

Analysts Set New Price Targets

A number of brokerages have commented on JPM. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. UBS Group upped their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Truist Financial raised their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Piper Sandler upped their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Bank of America raised their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Trading Down 2.1 %

Shares of JPM opened at $242.97 on Monday. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25. The business has a 50-day moving average of $257.55 and a 200 day moving average of $240.77. The firm has a market cap of $679.36 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same quarter last year, the business earned $3.04 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is currently 28.37%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the transaction, the chief operating officer now directly owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the transaction, the insider now owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,848 shares of company stock valued at $19,987,908. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its holdings in JPMorgan Chase & Co. by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock valued at $1,228,110,000 after buying an additional 182,648 shares in the last quarter. United Bank boosted its position in shares of JPMorgan Chase & Co. by 2.5% in the third quarter. United Bank now owns 25,354 shares of the financial services provider’s stock valued at $5,346,000 after acquiring an additional 614 shares during the period. Icon Wealth Advisors LLC grew its stake in JPMorgan Chase & Co. by 7.4% during the third quarter. Icon Wealth Advisors LLC now owns 32,571 shares of the financial services provider’s stock valued at $6,868,000 after acquiring an additional 2,242 shares in the last quarter. Captrust Financial Advisors increased its holdings in JPMorgan Chase & Co. by 1.7% during the 3rd quarter. Captrust Financial Advisors now owns 734,375 shares of the financial services provider’s stock worth $154,850,000 after acquiring an additional 12,411 shares during the period. Finally, Fred Alger Management LLC lifted its stake in JPMorgan Chase & Co. by 3.6% in the 3rd quarter. Fred Alger Management LLC now owns 111,678 shares of the financial services provider’s stock worth $23,548,000 after purchasing an additional 3,854 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.