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JP Morgan Chase & Co. (NYSE:JPM) shares decline by 1.03%

Boston, MA 06/20/2013 (wallstreetpr) – The share prices of JP Morgan Chase & Co. (NYSE:JPM) had declined by 1.03 percent to close at $53.55 per share for the end of last trading session on Wednesday. The shares of the company had been trading in the range of $53.52 to $54.51 per share during the day. The shares of JP Morgan Chase & Co. (NYSE:JPM) had recorded 52 week low price level at $33.10 per share and 52 week high price level at $55.90 per share.

JP Morgan Chase & Co. (NYSE:JPM) had been facing continuous debacles in the fiscal year 2012, which includes the major $6.2 billion London Whale trading loss. The London whale case was based on transactions through the bank’s CIO’s London office.  In an effort to execute a hedging strategy, a series of derivative trades were made.  Unfortunately, for JPMorgan, these transactions resulted in an estimated $2 billion loss, which later swelled to over $6.2 billion.

Further, it had also been reported that JP Morgan Chase & Co. (NYSE:JPM) had paid around $16 billion since 2009 owing to litigation expenses and around $8.5 billion for regulatory and legal issues. Despite all such continuous losses to the company, JP Morgan Chase & Co. (NYSE:JPM) had managed to report net income of $21.3 billion. This was observed to be the highest profit ever reported by the company and was 12 percent increase over the company’s previous year net income.

JP Morgan Chase & Co. (NYSE:JPM) had witnessed the trade of 20.85 million shares on Wednesday, while the average trading volume is at 22.98 million shares per day. The company presently holds 3.78 billion shares outstanding in the market with an institutional ownership of 74 percent of its holdings.

Published by Christine Lawrence

Christine Lawrence is a financial analyst. She loves analyzing socioeconomic trends in the background of financial moves. She has overall seven years of experience in Auditing, Finance and Writing.

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