JPMorgan Chase & Co. (NYSE:JPM) Sees Significant Drop in Short Interest

JPMorgan Chase & Co. (NYSE:JPM) was the target of a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 20,092,036 shares, a decrease of 13.6% from the December 31st total of 23,245,406 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average trading volume of 12,763,705 shares, the days-to-cover ratio is presently 1.6 days. Based on an average trading volume of 12,763,705 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.7% of the shares of the stock are sold short.

JPMorgan Chase & Co. Trading Up 2.4%

Shares of JPM stock traded up $7.45 during mid-day trading on Tuesday, reaching $315.59. The stock had a trading volume of 2,844,936 shares, compared to its average volume of 11,600,758. The firm has a market capitalization of $859.11 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.49 and a beta of 1.07. The stock’s 50-day moving average price is $314.95 and its two-hundred day moving average price is $306.55. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $337.25.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its earnings results on Tuesday, January 13th. The financial services provider reported $5.23 earnings per share for the quarter, topping analysts’ consensus estimates of $4.93 by $0.30. JPMorgan Chase & Co. had a net margin of 20.35% and a return on equity of 17.16%. The company had revenue of $46.77 billion during the quarter, compared to analyst estimates of $45.98 billion. During the same period in the prior year, the business posted $4.81 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Tuesday, January 6th were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.99%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $350.00 to $360.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, October 21st. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and set a $280.00 target price on the stock in a report on Tuesday. Barclays reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, January 14th. Finally, Freedom Capital upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a research report on Wednesday, January 14th. Fourteen analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $336.82.

Check Out Our Latest Stock Analysis on JPM

Insiders Place Their Bets

In related news, CFO Jeremy Barnum sold 2,893 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $312.79, for a total value of $904,901.47. Following the sale, the chief financial officer directly owned 26,696 shares of the company’s stock, valued at $8,350,241.84. This trade represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jennifer Piepszak sold 8,571 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $312.79, for a total transaction of $2,680,923.09. Following the sale, the chief operating officer owned 71,027 shares of the company’s stock, valued at approximately $22,216,535.33. The trade was a 10.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 15,834 shares of company stock worth $4,951,910. 0.47% of the stock is currently owned by insiders.

Institutional Trading of JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JPM. Geode Capital Management LLC raised its stake in JPMorgan Chase & Co. by 0.5% in the second quarter. Geode Capital Management LLC now owns 61,129,271 shares of the financial services provider’s stock worth $17,646,506,000 after buying an additional 300,160 shares in the last quarter. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $10,295,209,000. Legal & General Group Plc raised its position in shares of JPMorgan Chase & Co. by 3.3% in the 3rd quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider’s stock worth $5,964,459,000 after acquiring an additional 607,025 shares in the last quarter. Laurel Wealth Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 28,813.7% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock valued at $4,866,309,000 after purchasing an additional 16,727,530 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 15,722,443 shares of the financial services provider’s stock valued at $4,959,330,000 after purchasing an additional 347,033 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

More JPMorgan Chase & Co. News

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

About JPMorgan Chase & Co.

(Get Free Report)

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.

Read More

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.