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

JPMorgan Chase & Co. (NYSE:JPM) saw a large growth in short interest in February. As of February 28th, there was short interest totalling 18,070,000 shares, a growth of 9.9% from the February 13th total of 16,440,000 shares. Based on an average daily trading volume, of 9,720,000 shares, the days-to-cover ratio is currently 1.9 days. Approximately 0.6% of the shares of the company are short sold.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $134.62 on Wednesday. The firm’s 50-day moving average price is $139.56 and its two-hundred day moving average price is $129.12. The stock has a market capitalization of $396.23 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 2.07 and a beta of 1.12. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $144.34. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.12.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.46. The firm had revenue of $34.55 billion for the quarter, compared to the consensus estimate of $34.23 billion. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The business’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.33 earnings per share. On average, equities analysts predict that JPMorgan Chase & Co. will post 12.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 23,148 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the completion of the sale, the general counsel now directly owns 48,311 shares in the company, valued at approximately $6,778,516.41. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Mellody L. Hobson acquired 375 shares of the firm’s stock in a transaction dated Thursday, January 19th. The shares were acquired at an average cost of $134.53 per share, with a total value of $50,448.75. Following the acquisition, the director now directly owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Stacey Friedman sold 23,148 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $140.31, for a total value of $3,247,895.88. Following the sale, the general counsel now directly owns 48,311 shares in the company, valued at $6,778,516.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,887 shares of company stock worth $5,315,762. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in JPMorgan Chase & Co. by 1.1% during the third quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock worth $28,480,408,000 after acquiring an additional 2,918,554 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after purchasing an additional 97,907,897 shares during the period. Morgan Stanley grew its position in shares of JPMorgan Chase & Co. by 15.9% in the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after buying an additional 8,088,433 shares during the last quarter. Geode Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 51,248,625 shares of the financial services provider’s stock worth $6,859,512,000 after purchasing an additional 1,082,325 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in JPMorgan Chase & Co. by 23.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 31,667,210 shares of the financial services provider’s stock worth $3,566,044,000 after purchasing an additional 5,978,393 shares in the last quarter. Hedge funds and other institutional investors own 67.89% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $155.00 to $145.00 in a report on Friday, January 6th. Barclays increased their price target on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 3rd. Piper Sandler upped their price objective on JPMorgan Chase & Co. from $150.00 to $157.00 in a research note on Tuesday, January 17th. UBS Group set a $156.00 price target on JPMorgan Chase & Co. in a research note on Friday, January 13th. Finally, Oppenheimer raised their price objective on JPMorgan Chase & Co. from $177.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, February 2nd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $150.78.

About JPMorgan Chase & Co.

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JPMorgan Chase & Co is a financial holding company, which engages in providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.