JPMorgan Chase & Co. (NYSE:JPM) Shares Down 1.1% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM)’s share price was down 1.1% during trading on Thursday . The company traded as low as $341.11 and last traded at $343.0250. 12,328,239 shares were traded during mid-day trading, an increase of 21% from the average session volume of 10,187,672 shares. The stock had previously closed at $346.91.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan reported record second-quarter results, including $21.2 billion in net income, with CEO Jamie Dimon saying the economy is “close to as good as it gets,” reinforcing confidence in the bank’s core franchise. Article Title
• Positive Sentiment: Equities trading revenue jumped 86%, and JPMorgan raised its full-year net interest income guidance to $105.5 billion, signaling stronger-than-expected earnings momentum going forward. Article Title
• Positive Sentiment: Bank of America raised its price target on JPM to $420 and reiterated a buy rating, while other firms also lifted targets, reflecting growing optimism after the earnings beat. Article Title
• Positive Sentiment: Analysts highlighted record Q2 earnings, strong market performance, and capital flexibility as reasons JPMorgan could sustain above-average profitability, supporting the stock’s valuation. Article Title
• Neutral Sentiment: JPMorgan declared preferred stock dividends, a routine capital-return move that signals balance-sheet stability but is unlikely to change the near-term stock story. Article Title
• Negative Sentiment: One note of caution: JPMorgan also raised its expense outlook to $107.5 billion, which some commentary said is why the shares dipped even after the strong earnings report. Article Title

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JPM. Piper Sandler boosted their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Autonomous Res reduced their price target on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. Argus increased their price objective on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Finally, DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Fifteen analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $354.92.

JPMorgan Chase & Co. Stock Down 1.1%

The firm has a 50-day moving average of $317.58 and a 200 day moving average of $309.98. The stock has a market capitalization of $919.14 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.56 and a beta of 0.99. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.50 by $0.44. The company had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. JPMorgan Chase & Co.’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the company earned $5.07 earnings per share. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 22.82 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.71%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,919 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the transaction, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at $26,326,072.44. This represents a 5.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the sale, the general counsel owned 40,961 shares of the company’s stock, valued at $13,547,031.53. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,876 shares of company stock valued at $5,907,051 in the last quarter. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Fidelis Capital Partners LLC lifted its holdings in shares of JPMorgan Chase & Co. by 7.9% during the 4th quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider’s stock valued at $22,580,000 after buying an additional 5,101 shares during the last quarter. Howard Capital Management Inc. increased its holdings in JPMorgan Chase & Co. by 18.2% in the fourth quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider’s stock worth $8,308,000 after buying an additional 3,976 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in JPMorgan Chase & Co. by 51.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider’s stock valued at $2,862,000 after acquiring an additional 3,027 shares in the last quarter. Brighton Jones LLC raised its position in JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after acquiring an additional 4,841 shares in the last quarter. Finally, KTF Investments LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $6,449,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.