J P Morgan Chase & Co (NYSE:JPM) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 23,271,624 shares, a drop of 17.5% from the October 31st total of 28,214,464 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average trading volume of 11,678,641 shares, the days-to-cover ratio is presently 2.0 days.

In related news, General Counsel Stacey Friedman sold 2,099 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $101.96, for a total value of $214,014.04. Following the sale, the general counsel now directly owns 15,279 shares of the company’s stock, valued at $1,557,846.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. David R. Rahn & Associates Inc. purchased a new position in shares of J P Morgan Chase & Co in the second quarter worth $1,458,000. Gamble Jones Investment Counsel boosted its holdings in J P Morgan Chase & Co by 0.6% in the second quarter. Gamble Jones Investment Counsel now owns 49,959 shares of the financial services provider’s stock valued at $4,566,000 after acquiring an additional 276 shares in the last quarter. Ironwood Investment Management LLC boosted its holdings in J P Morgan Chase & Co by 61.9% in the second quarter. Ironwood Investment Management LLC now owns 6,668 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 2,550 shares in the last quarter. Grove Bank & Trust boosted its holdings in J P Morgan Chase & Co by 16.9% in the second quarter. Grove Bank & Trust now owns 9,787 shares of the financial services provider’s stock valued at $895,000 after acquiring an additional 1,417 shares in the last quarter. Finally, Lee Danner & Bass Inc. boosted its holdings in J P Morgan Chase & Co by 0.4% in the second quarter. Lee Danner & Bass Inc. now owns 17,494 shares of the financial services provider’s stock valued at $1,599,000 after acquiring an additional 69 shares in the last quarter. 73.94% of the stock is currently owned by institutional investors.

A number of brokerages recently weighed in on JPM. Jefferies Group set a $111.00 target price on shares of J P Morgan Chase & Co and gave the company a “buy” rating in a research note on Friday, October 13th. Keefe, Bruyette & Woods set a $96.00 target price on shares of J P Morgan Chase & Co and gave the company a “hold” rating in a research note on Saturday, August 19th. Vetr raised shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $93.14 target price on the stock in a research note on Wednesday, September 6th. BMO Capital Markets raised their target price on shares of J P Morgan Chase & Co from $86.00 to $91.00 and gave the company a “market perform” rating in a research note on Friday, October 13th. Finally, Zacks Investment Research downgraded shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company’s stock. J P Morgan Chase & Co currently has an average rating of “Hold” and an average target price of $92.18.

J P Morgan Chase & Co (JPM) opened at $104.79 on Friday. The company has a market cap of $362,655.72, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. J P Morgan Chase & Co has a one year low of $80.90 and a one year high of $106.66. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.03 and a current ratio of 1.03.

J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.76 EPS for the quarter, topping the consensus estimate of $1.67 by $0.09. The firm had revenue of $25.33 billion for the quarter, compared to the consensus estimate of $24.91 billion. J P Morgan Chase & Co had a net margin of 24.08% and a return on equity of 11.68%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $1.58 earnings per share. sell-side analysts predict that J P Morgan Chase & Co will post 6.91 EPS for the current fiscal year.

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J P Morgan Chase & Co Company Profile

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

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