TFB Advisors LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,270 shares of the financial services provider’s stock after selling 244 shares during the quarter. TFB Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $1,322,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Catalyst Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter worth about $27,000. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $32,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth $34,000. Davidson Capital Management Inc. bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth $37,000. Finally, West Financial Advisors LLC acquired a new position in JPMorgan Chase & Co. in the third quarter valued at about $37,000. Institutional investors own 71.55% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on JPM shares. Royal Bank of Canada upped their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, Oppenheimer increased their price objective on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $224.31.
Check Out Our Latest Research Report on JPMorgan Chase & Co.
JPMorgan Chase & Co. Stock Performance
JPM stock opened at $239.41 on Tuesday. The stock’s 50 day simple moving average is $217.24 and its 200 day simple moving average is $208.46. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 12-month low of $145.16 and a 12-month high of $248.00. The stock has a market capitalization of $674.02 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 3.46 and a beta of 1.10.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.33 earnings per share. As a group, research analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.09%. JPMorgan Chase & Co.’s payout ratio is 27.82%.
About JPMorgan Chase & Co.
(Free Report)
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.
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