Clear Creek Financial Management LLC Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Clear Creek Financial Management LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 18.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,697 shares of the financial services provider’s stock after selling 3,216 shares during the period. Clear Creek Financial Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,099,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in JPM. Retirement Group LLC lifted its position in shares of JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares during the last quarter. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. during the second quarter valued at about $32,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. during the second quarter worth about $34,000. West Financial Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the third quarter worth about $37,000. Finally, Davidson Capital Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $37,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.8 %

NYSE JPM opened at $221.58 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock’s 50-day simple moving average is $216.19 and its two-hundred day simple moving average is $207.43. JPMorgan Chase & Co. has a twelve month low of $142.79 and a twelve month high of $226.75. The company has a market capitalization of $623.82 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 3.25 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.33 EPS. Research analysts forecast that JPMorgan Chase & Co. will post 17.52 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.26%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Daiwa Capital Markets cut their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Oppenheimer raised their target price on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, BMO Capital Markets upped their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $223.38.

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, 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.