JPMorgan Chase & Co. (NYSE:JPM) Shares Down 3.3% – Here’s What Happened
by Michael Walen · The Markets DailyJPMorgan Chase & Co. (NYSE:JPM) shares fell 3.3% on Tuesday . The company traded as low as $337.30 and last traded at $340.2750. 11,288,024 shares changed hands during trading, an increase of 21% from the average session volume of 9,322,195 shares. The stock had previously closed at $352.04.
More JPMorgan Chase & Co. News
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: J.P. Morgan Asset Management agreed to a strategic partnership with the Qatar Investment Authority involving up to $20 billion across public equities and private markets. The arrangement could expand fee-based asset-management revenue and strengthen JPMorgan’s global institutional relationships. JPMorgan Inks $20 Billion Partnership With Qatar Investment Authority
- Positive Sentiment: JPMorgan raised its quarterly dividend to $1.65 per share from $1.50, reinforcing the bank’s capital-return appeal and signaling confidence in its earnings and balance-sheet strength. JPMorgan Raises its Dividend
- Positive Sentiment: JPMorgan is expanding cross-border payments through a partnership with Thunes, potentially improving payout speed and reach in international markets. Its payments leadership also highlighted growth opportunities in India’s merchant-payments sector. Thunes Powers J.P. Morgan Payments’ Xpedite Remit Solution
- Neutral Sentiment: CEO Jamie Dimon expects AI hyperscaler spending to reach roughly $1 trillion next year. The forecast supports investment-banking and financing opportunities, but Dimon also warned that the spending boom could add to inflation, potentially keeping interest rates elevated. Jamie Dimon Says AI Spending Could Hit $1 Trillion
- Negative Sentiment: Investors favored technology stocks as the Nasdaq 100 approached record levels, contributing to a broad financial-sector selloff and overshadowing JPMorgan’s QIA announcement.
- Negative Sentiment: Credit-card delinquencies and net charge-offs rose sequentially in August across major issuers. Although still below year-ago levels, the increase points to modestly rising consumer-credit stress that could pressure future loan performance. U.S. Card Issuers Delinquencies and Net Charge-Offs Rise
- Negative Sentiment: Reports that Russia-linked payments moved through global banks despite sanctions named JPMorgan among institutions connected to the money trail. Even without evidence of wrongdoing by JPMorgan, the report creates potential compliance, regulatory and reputational concerns. Russia-Linked Payments Reportedly Slipped Through Global Banks
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on JPM shares. Wells Fargo & Company raised their price objective 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. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Jefferies Financial Group set a $350.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Robert W. Baird lifted their price objective on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, Morgan Stanley reiterated a “positive” rating and issued a $370.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 15th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average target price of $359.96.
Get Our Latest Stock Report on JPM
JPMorgan Chase & Co. Stock Down 3.3%
The company has a market cap of $904.52 billion, a P/E ratio of 14.58, a PEG ratio of 1.44 and a beta of 0.98. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.85. The business’s 50 day moving average price is $354.07 and its 200-day moving average price is $324.40.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping analysts’ consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. During the same period in the prior year, the company earned $4.96 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 27.7% on a year-over-year basis. On average, analysts anticipate that JPMorgan Chase & Co. will post 24.3 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Tuesday, October 6th will be given a dividend of $1.65 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, October 6th. This represents a $6.60 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.71%.
Insider Buying and Selling
In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $352.81, for a total value of $882,025.00. Following the completion of the sale, the insider owned 71,047 shares in the company, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.
Several hedge funds have recently modified their holdings of the stock. MBM Wealth Consultants LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $29,000. Aventus Investment Advisors Inc. acquired a new stake in JPMorgan Chase & Co. in the second quarter worth about $33,000. Osbon Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $35,000. Timbuktu Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth about $50,000. Finally, NI Acquisitions Company LLC acquired a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $51,000. 71.55% of the stock is owned by institutional investors.
About JPMorgan Chase & Co.
JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.
The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.
JPMorgan Chase serves customers in the United States and maintains operations and client relationships across numerous international markets.