Maiden Cove Capital LLC Invests $552,000 in JPMorgan Chase & Co. (NYSE:JPM)

Maiden Cove Capital LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 2,688 shares of the financial services provider’s stock, valued at approximately $552,000. JPMorgan Chase & Co. comprises 1.1% of Maiden Cove Capital LLC’s portfolio, making the stock its 25th largest holding.

Other hedge funds have also bought and sold shares of the company. Catalyst Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the third quarter worth $27,000. Fairway Wealth LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at about $32,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at about $34,000. West Financial Advisors LLC purchased a new position in JPMorgan Chase & Co. in the third quarter worth about $37,000. Finally, New England Capital Financial Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 38.5% in the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after buying an additional 50 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.3 %

Shares of JPM opened at $241.93 on Friday. The firm’s fifty day moving average is $218.35 and its two-hundred day moving average is $209.33. The stock has a market cap of $681.12 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 52-week low of $148.46 and a 52-week high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s 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 17.62 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 given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.07%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Wall Street Analysts Forecast Growth

JPM has been the topic of several analyst reports. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on 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 restated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $224.31.

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, 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.