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

JPMorgan Chase & Co. (NYSE:JPM) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 30,120,000 shares, a growth of 14.7% from the October 31st total of 26,260,000 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 9,070,000 shares, the days-to-cover ratio is currently 3.3 days.

JPMorgan Chase & Co. Price Performance

NYSE JPM traded down $1.43 during trading hours on Tuesday, hitting $244.82. The company had a trading volume of 6,651,458 shares, compared to its average volume of 9,129,947. The firm has a 50 day simple moving average of $228.56 and a 200 day simple moving average of $214.37. JPMorgan Chase & Co. has a 52 week low of $155.88 and a 52 week high of $254.31. The firm has a market capitalization of $689.25 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 3.57 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. During the same period in the prior year, the company earned $4.33 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.04%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Analysts Set New Price Targets

JPM has been the topic of several analyst reports. Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a “market perform” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $234.81.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at $1,888,088,000. Fisher Asset Management LLC increased its position in shares of JPMorgan Chase & Co. by 31.7% during the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after purchasing an additional 4,043,841 shares during the last quarter. Wulff Hansen & CO. lifted its stake in shares of JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after purchasing an additional 2,787,510 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of JPMorgan Chase & Co. by 137.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock worth $922,760,000 after buying an additional 2,535,590 shares during the last quarter. Finally, Granite Bay Wealth Management LLC grew its position in JPMorgan Chase & Co. by 6,239.1% during the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after buying an additional 1,396,194 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.