First PREMIER Bank trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,949 shares of the financial services provider’s stock after selling 205 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.2% of First PREMIER Bank’s investment portfolio, making the stock its 28th biggest holding. First PREMIER Bank’s holdings in JPMorgan Chase & Co. were worth $2,230,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of JPM. Semmax Financial Advisors Inc. acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $56,000. Stamos Capital Partners L.P. purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $5,008,000. ERTS Wealth Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $177,000. Genesee Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $920,000. Finally, CapWealth Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 10.5% in the 4th quarter. CapWealth Advisors LLC now owns 60,109 shares of the financial services provider’s stock valued at $5,868,000 after buying an additional 5,705 shares during the last quarter. 71.89% of the stock is currently owned by institutional investors.
JPMorgan Chase & Co. stock traded up $2.99 during midday trading on Friday, hitting $117.20. 472,653 shares of the company’s stock were exchanged, compared to its average volume of 11,492,522. JPMorgan Chase & Co. has a 12-month low of $91.11 and a 12-month high of $120.40. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $357.54 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 1.62 and a beta of 1.20. The firm’s 50 day simple moving average is $113.95 and its 200 day simple moving average is $111.37.
JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 16th. The financial services provider reported $2.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.50 by $0.32. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The company had revenue of $28.83 billion during the quarter, compared to analysts’ expectations of $28.52 billion. During the same quarter last year, the business earned $2.29 EPS. The business’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 9.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Thursday, October 3rd. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 40.00%.
In other news, Director Mellody L. Hobson bought 18,200 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $109.91 per share, for a total transaction of $2,000,362.00. Following the purchase, the director now owns 7,804 shares of the company’s stock, valued at $857,737.64. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lori A. Beer sold 13,341 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $114.28, for a total transaction of $1,524,609.48. Following the completion of the sale, the insider now owns 10,130 shares of the company’s stock, valued at approximately $1,157,656.40. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company insiders.
JPM has been the topic of a number of recent analyst reports. Credit Suisse Group set a $135.00 target price on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada set a $120.00 target price on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Monday. Morgan Stanley set a $122.00 target price on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Friday, August 9th. UBS Group increased their target price on shares of JPMorgan Chase & Co. from $125.00 to $131.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Deutsche Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Friday, June 28th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $122.59.
About JPMorgan Chase & Co.
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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