Traders Buy Shares of JPMorgan Chase (JPM) on Weakness

Investors purchased shares of JPMorgan Chase (NYSE:JPM) on weakness during trading on Wednesday. $387.48 million flowed into the stock on the tick-up and $276.44 million flowed out of the stock on the tick-down, for a money net flow of $111.04 million into the stock. Of all stocks tracked, JPMorgan Chase had the 4th highest net in-flow for the day. JPMorgan Chase traded down ($0.89) for the day and closed at $109.32

A number of equities analysts have recently commented on the stock. Jefferies Group reissued a “buy” rating and issued a $122.00 target price on shares of JPMorgan Chase in a research note on Monday. BMO Capital Markets reissued a “hold” rating and issued a $110.00 target price on shares of JPMorgan Chase in a research note on Friday, April 13th. HSBC assumed coverage on shares of JPMorgan Chase in a research note on Wednesday, April 11th. They issued a “hold” rating and a $111.00 target price on the stock. Vining Sparks reissued a “buy” rating and issued a $130.00 target price on shares of JPMorgan Chase in a research note on Friday, April 6th. Finally, Vetr downgraded shares of JPMorgan Chase from a “strong-buy” rating to a “buy” rating and set a $123.29 target price on the stock. in a research note on Thursday, April 5th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $112.10.

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The company has a market capitalization of $378,236.19, a PE ratio of 15.91, a price-to-earnings-growth ratio of 1.86 and a beta of 1.24. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.01 and a current ratio of 1.01.

JPMorgan Chase (NYSE:JPM) last announced its quarterly earnings data on Friday, April 13th. The financial services provider reported $2.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.09. The company had revenue of $27.90 billion during the quarter, compared to analyst estimates of $27.73 billion. JPMorgan Chase had a net margin of 22.53% and a return on equity of 12.60%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the business earned $1.65 EPS. analysts predict that JPMorgan Chase will post 8.9 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, April 6th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, April 5th. JPMorgan Chase’s dividend payout ratio is currently 32.61%.

In related news, Director Mellody L. Hobson acquired 18,000 shares of the firm’s stock in a transaction on Monday, April 16th. The stock was bought at an average cost of $111.05 per share, with a total value of $1,998,900.00. Following the acquisition, the director now directly owns 864 shares in the company, valued at $95,947.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James S. Crown acquired 7,280 shares of the firm’s stock in a transaction on Thursday, January 18th. The shares were bought at an average cost of $113.37 per share, with a total value of $825,333.60. Following the completion of the acquisition, the director now owns 305,875 shares in the company, valued at $34,677,048.75. The disclosure for this purchase can be found here. 0.73% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Beach Investment Management LLC. boosted its holdings in shares of JPMorgan Chase by 1,117.4% in the 2nd quarter. Beach Investment Management LLC. now owns 559,171 shares of the financial services provider’s stock valued at $51,108,000 after buying an additional 513,241 shares during the period. Smith Chas P & Associates PA Cpas boosted its holdings in shares of JPMorgan Chase by 0.4% in the 2nd quarter. Smith Chas P & Associates PA Cpas now owns 282,482 shares of the financial services provider’s stock valued at $25,819,000 after buying an additional 1,220 shares during the period. Miracle Mile Advisors LLC boosted its holdings in shares of JPMorgan Chase by 13.5% in the 2nd quarter. Miracle Mile Advisors LLC now owns 4,360 shares of the financial services provider’s stock valued at $399,000 after buying an additional 517 shares during the period. Apriem Advisors boosted its holdings in shares of JPMorgan Chase by 3.9% in the 2nd quarter. Apriem Advisors now owns 68,022 shares of the financial services provider’s stock valued at $6,217,000 after buying an additional 2,550 shares during the period. Finally, Cadence Capital Management LLC boosted its holdings in shares of JPMorgan Chase by 5.3% in the 2nd quarter. Cadence Capital Management LLC now owns 179,581 shares of the financial services provider’s stock valued at $16,414,000 after buying an additional 9,105 shares during the period. 74.49% of the stock is owned by institutional investors.

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About JPMorgan Chase

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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