JPMorgan Chase & Co. (NYSE:JPM) Shares Down 3.5% – What’s Next?

Shares of JPMorgan Chase & Co. (NYSE:JPM) traded down 3.5% during mid-day trading on Monday . The company traded as low as $232.52 and last traded at $233.71. 4,899,698 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 8,696,452 shares. The stock had previously closed at $242.28.

Wall Street Analyst Weigh In

JPM has been the subject of several research analyst reports. UBS Group raised their price objective 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. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a research report on Friday, January 3rd. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $215.00 to $220.00 in a research note on Friday. Bank of America boosted their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Finally, Truist Financial upped their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $252.89.

JPMorgan Chase & Co. Price Performance

The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock’s 50-day moving average is $259.41 and its two-hundred day moving average is $238.60. The stock has a market cap of $648.18 billion, a PE ratio of 11.74, a PEG ratio of 2.83 and a beta of 1.10.

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

Insider Buying and Selling

In other news, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was 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 directly owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This trade represents a 2.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,326 shares of company stock worth $12,448,445. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several hedge funds have recently bought and sold shares of JPM. Tobias Financial Advisors Inc. lifted its stake in shares of JPMorgan Chase & Co. by 8.5% during the 3rd quarter. Tobias Financial Advisors Inc. now owns 1,281 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 100 shares during the period. Flagship Private Wealth LLC acquired a new position in JPMorgan Chase & Co. in the third quarter valued at $207,000. Balentine LLC lifted its position in JPMorgan Chase & Co. by 80.7% during the third quarter. Balentine LLC now owns 5,134 shares of the financial services provider’s stock worth $1,083,000 after buying an additional 2,293 shares during the period. Catalina Capital Group LLC boosted its stake in JPMorgan Chase & Co. by 14.3% in the 3rd quarter. Catalina Capital Group LLC now owns 13,423 shares of the financial services provider’s stock worth $2,830,000 after buying an additional 1,677 shares during the last quarter. Finally, Financial Security Advisor Inc. grew its holdings in JPMorgan Chase & Co. by 14.9% in the 3rd quarter. Financial Security Advisor Inc. now owns 2,854 shares of the financial services provider’s stock valued at $602,000 after buying an additional 370 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.