JPMorgan Chase & Co. (NYSE:JPM) Trading Down 1.4% – Time to Sell?

JPMorgan Chase & Co. (NYSE:JPM)’s share price dropped 1.4% during trading on Wednesday . The stock traded as low as $300.07 and last traded at $300.4930. Approximately 7,665,656 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 10,259,784 shares. The stock had previously closed at $304.88.

More JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorganChase declared dividends on its Series II, OO and PP preferred stock, signaling continued capital return and financial stability. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: Reuters reported that JPMorgan’s long-running push into early-stage tech banking is paying off, with the firm now leading global technology investment banking and winning business from startup clients early in their growth cycle. JPMorgan’s bet on early-stage companies pays off in leading global tech investment banking
• Positive Sentiment: Chase continued expanding its branch network, opening 18 new branches in May as part of a multibillion-dollar expansion, which supports deposit gathering and retail growth over time. Chase Opens 18 Branches in May Amid Multibillion-Dollar Expansion

Analyst Ratings Changes

JPM has been the subject of several research analyst reports. Barclays reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, May 6th. Truist Financial raised their price target on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a “hold” rating in a research report on Wednesday, April 15th. Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, February 24th. Fifteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $338.12.

JPMorgan Chase & Co. Stock Down 0.7%

The firm has a market cap of $798.31 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.46 and a beta of 1.03. The business’s 50 day moving average price is $299.70 and its 200 day moving average price is $307.39. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. The business had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company earned $5.07 EPS. On average, equities analysts forecast that JPMorgan Chase & Co. will post 22.42 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were issued a $1.50 dividend. The ex-dividend date of this dividend was Monday, April 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.

Insider Buying and Selling

In related news, CEO Troy L. Rohrbaugh sold 50,000 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $307.11, for a total value of $15,355,500.00. Following the completion of the transaction, the chief executive officer owned 111,279 shares of the company’s stock, valued at approximately $34,174,893.69. This represents a 31.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 3,404 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $306.40, for a total value of $1,042,985.60. Following the completion of the transaction, the general counsel directly owned 61,949 shares of the company’s stock, valued at $18,981,173.60. The trade was a 5.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 79,849 shares of company stock worth $24,522,956 in the last ninety days. 0.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley grew its stake in JPMorgan Chase & Co. by 1.4% in the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock valued at $21,390,662,000 after acquiring an additional 939,421 shares during the period. Norges Bank acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $11,396,496,000. Bank of New York Mellon Corp grew its stake in JPMorgan Chase & Co. by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock valued at $7,547,837,000 after acquiring an additional 1,194,583 shares during the period. Legal & General Group Plc grew its stake in JPMorgan Chase & Co. by 0.6% in the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock valued at $6,128,484,000 after acquiring an additional 110,586 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in JPMorgan Chase & Co. by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 18,968,884 shares of the financial services provider’s stock valued at $5,578,788,000 after acquiring an additional 607,288 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.