JPMorgan Chase & Co. (NYSE:JPM) Shares Down 1.1% – Should You Sell?

Shares of JPMorgan Chase & Co. (NYSE:JPM) dropped 1.1% on Friday . The stock traded as low as $355.20 and last traded at $358.21. 4,857,778 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 9,361,066 shares. The stock had previously closed at $362.06.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan hired senior healthcare investment banker David Blais from Guggenheim Securities. The appointment could strengthen the firm’s healthcare advisory and investment-banking franchise, although the immediate earnings impact is likely limited. JPMorgan hires healthcare banker David Blais from Guggenheim
• Positive Sentiment: JPMorgan and BNP Paribas now expect the European Central Bank to raise rates again in December as inflation, energy prices and economic growth remain firm. Higher rates can support JPMorgan’s interest income, though the benefit depends on loan demand and credit quality. J.P. Morgan and BNP Paribas expect ECB rate hike
• Neutral Sentiment: A strategist affiliated with JPMorgan expects the Federal Reserve to leave rates unchanged for the remainder of the year, while futures markets assign meaningful odds to a hike. The disagreement increases uncertainty around net interest income, bond-market positions and bank valuations. No increase in interest rates versus markets pricing hike odds
• Negative Sentiment: August’s reported 162,000-job increase points to a resilient labor market, which may delay rate cuts or revive rate-hike concerns. While that could support interest income, it also raises funding, credit, valuation and policy risks for JPMorgan. JPMorgan falls as jobs revive higher-rate concerns
• Negative Sentiment: JPMorgan reportedly reduced financing for Jane Street after the trading firm expanded in U.S. Treasury market-making. The move may limit direct exposure, but it highlights growing competition from nonbank firms in a strategically important business. JPMorgan curbed lending to Jane Street

Analyst Upgrades and Downgrades

JPM has been the topic of several analyst reports. Zacks Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Royal Bank Of Canada increased their price target on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Barclays raised their price target on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Finally, Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $359.96.

JPMorgan Chase & Co. Stock Performance

The company’s 50-day moving average price is $349.30 and its 200 day moving average price is $320.17. The stock has a market capitalization of $952.19 billion, a PE ratio of 15.35, a PEG ratio of 1.47 and a beta of 0.98. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping the consensus estimate of $5.59 by $0.55. The business had revenue of $58.02 billion during the quarter, compared to analyst estimates of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. JPMorgan Chase & Co.’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same period last year, the business posted $4.96 earnings per share. On average, equities research analysts expect that JPMorgan Chase & Co. will post 24.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 5,467 shares of the 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 completion of the transaction, the general counsel directly owned 40,961 shares in the company, valued at $13,547,031.53. This trade represents a 11.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $361.41, for a total transaction of $903,525.00. Following the transaction, the insider directly owned 73,547 shares of the company’s stock, valued at approximately $26,580,621.27. This trade represents a 3.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by corporate insiders.

Institutional Trading of JPMorgan Chase & Co.

Institutional investors have recently bought and sold shares of the company. Timmons Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $27,000. MBM Wealth Consultants LLC purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth approximately $32,000. Aventus Investment Advisors Inc. bought a new stake in JPMorgan Chase & Co. in the 2nd quarter worth approximately $33,000. Finally, Osbon Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $35,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

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.