Short Interest in JPMorgan Chase & Co. (NYSE:JPM) Increases By 6.1%

JPMorgan Chase & Co. (NYSE:JPM) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 27,560,000 shares, an increase of 6.1% from the August 30th total of 25,980,000 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily volume of 11,400,000 shares, the short-interest ratio is currently 2.4 days.

JPM has been the topic of several recent research reports. Deutsche Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Friday, June 28th. BMO Capital Markets increased their target price on JPMorgan Chase & Co. to $126.00 in a research note on Wednesday. Royal Bank of Canada increased their target price on JPMorgan Chase & Co. to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday. Buckingham Research cut JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a research note on Monday, September 16th. They noted that the move was a valuation call. Finally, ValuEngine raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $121.94.

Shares of NYSE JPM traded up $0.55 during trading on Thursday, reaching $120.23. The company had a trading volume of 5,727,999 shares, compared to its average volume of 12,293,741. JPMorgan Chase & Co. has a 12-month low of $91.11 and a 12-month high of $121.59. The stock has a market cap of $372.35 billion, a PE ratio of 13.36, a P/E/G ratio of 1.68 and a beta of 1.20. The business’s 50-day moving average is $115.53 and its 200 day moving average is $112.01. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.22.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.23. The firm had revenue of $29.34 billion for the quarter, compared to the consensus estimate of $28.36 billion. JPMorgan Chase & Co. had a return on equity of 14.40% and a net margin of 24.73%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.34 earnings per share. On average, analysts anticipate that JPMorgan Chase & Co. will post 9.91 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.90 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Thursday, October 3rd. JPMorgan Chase & Co.’s dividend payout ratio is presently 40.00%.

In related news, CEO Gordon Smith sold 83,289 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $119.98, for a total value of $9,993,014.22. Following the sale, the chief executive officer now directly owns 393,197 shares of the company’s stock, valued at $47,175,776.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mellody L. Hobson purchased 18,200 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $109.91 per share, for a total transaction of $2,000,362.00. Following the completion of the purchase, the director now owns 7,804 shares of the company’s stock, valued at $857,737.64. The disclosure for this purchase can be found here. 0.76% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Personal Wealth Partners bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at $28,000. MRA Associates USA LLC bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at $30,000. Global Trust Asset Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 2,027.2% during the second quarter. Global Trust Asset Management LLC now owns 5,318 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 5,068 shares in the last quarter. Titan Capital Management LLC CA bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at $35,000. Finally, Vista Private Wealth Partners. LLC bought a new position in shares of JPMorgan Chase & Co. during the third quarter valued at $35,000. 71.94% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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