JPMorgan Chase & Co. (NYSE:JPM) Shares Down 6.2% After Analyst Downgrade

JPMorgan Chase & Co. (NYSE:JPM) shares dropped 6.2% during mid-day trading on Friday after Truist Financial lowered their price target on the stock from $268.00 to $264.00. Truist Financial currently has a hold rating on the stock. JPMorgan Chase & Co. traded as low as $208.93 and last traded at $213.25. Approximately 7,417,186 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 9,395,231 shares. The stock had previously closed at $227.29.

Several other research analysts have also issued reports on JPM. Bank of America decreased their price target on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a research note on Wednesday. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and raised their target price for the company from $215.00 to $220.00 in a research note on Friday, March 7th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a report on Friday, January 3rd. 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 research note on Thursday, January 16th. Finally, Barclays lifted their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $254.83.

Insider Activity

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the sale, the insider now owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. The trade was a 2.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,848 shares of company stock valued at $19,987,908 over the last three months. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several hedge funds and other institutional investors have recently made changes to their positions in JPM. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $29,000. Sellwood Investment Partners LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $34,000. Investment Counsel Co. of Nevada purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth $37,000. Midwest Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth $43,000. Finally, Prudent Man Investment Management Inc. bought a new position in JPMorgan Chase & Co. in the 4th quarter worth $43,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 8.1 %

The company has a 50-day moving average of $254.71 and a two-hundred day moving average of $241.51. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The company has a market capitalization of $587.43 billion, a PE ratio of 10.64, a P/E/G ratio of 2.83 and a beta of 1.01.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 annualized dividend and a yield of 2.67%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s payout ratio is currently 28.37%.

JPMorgan Chase & Co. Company Profile

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.