Short Interest in JPMorgan Chase & Co. (NYSE:JPM) Expands By 11.0%

JPMorgan Chase & Co. (NYSE:JPM) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 30,300,000 shares, an increase of 11.0% from the September 30th total of 27,290,000 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily volume of 11,380,000 shares, the short-interest ratio is currently 2.7 days.

In other JPMorgan Chase & Co. news, CEO Gordon Smith sold 83,289 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 393,197 shares of the company’s stock, valued at approximately $47,175,776.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicole Giles sold 863 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $126.73, for a total value of $109,367.99. Following the completion of the transaction, the insider now directly owns 8,949 shares in the company, valued at $1,134,106.77. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,944 shares of company stock worth $19,088,970. 0.76% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Morgan Stanley grew its stake in JPMorgan Chase & Co. by 5.8% during the 2nd quarter. Morgan Stanley now owns 35,662,949 shares of the financial services provider’s stock worth $3,987,118,000 after buying an additional 1,952,873 shares during the last quarter. Invesco Ltd. grew its stake in JPMorgan Chase & Co. by 39.8% during the 2nd quarter. Invesco Ltd. now owns 23,689,706 shares of the financial services provider’s stock worth $2,648,509,000 after buying an additional 6,745,215 shares during the last quarter. Nuveen Asset Management LLC grew its stake in JPMorgan Chase & Co. by 2,432.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 23,689,599 shares of the financial services provider’s stock worth $2,648,497,000 after buying an additional 22,754,332 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in JPMorgan Chase & Co. by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 15,021,076 shares of the financial services provider’s stock worth $1,679,357,000 after buying an additional 275,854 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in JPMorgan Chase & Co. by 1.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,687,342 shares of the financial services provider’s stock worth $1,493,173,000 after buying an additional 125,867 shares during the last quarter. 73.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of JPM stock traded up $0.93 on Friday, hitting $129.53. 6,375,179 shares of the stock traded hands, compared to its average volume of 10,264,461. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $403.35 billion, a PE ratio of 14.39, a PEG ratio of 1.81 and a beta of 1.21. JPMorgan Chase & Co. has a 1-year low of $91.11 and a 1-year high of $131.29. The company’s fifty day moving average is $122.06 and its 200 day moving average is $114.49.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.45 by $0.23. The business had revenue of $29.34 billion for the quarter, compared to analyst estimates of $28.36 billion. JPMorgan Chase & Co. had a return on equity of 14.63% and a net margin of 24.70%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 EPS. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 10.17 EPS for the current year.

The company 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 $0.90 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Thursday, October 3rd. JPMorgan Chase & Co.’s dividend payout ratio is currently 40.00%.

JPM has been the topic of a number of recent analyst reports. Societe Generale lowered JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Buckingham Research lowered JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a research report on Monday, September 16th. They noted that the move was a valuation call. Wells Fargo & Co set a $125.00 target price on JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Friday, August 16th. DZ Bank reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, August 21st. Finally, BMO Capital Markets upped their target price on JPMorgan Chase & Co. to $126.00 in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $123.02.

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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