Citizens Business Bank Decreases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Citizens Business Bank reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,333 shares of the financial services provider’s stock after selling 664 shares during the quarter. JPMorgan Chase & Co. makes up about 1.2% of Citizens Business Bank’s holdings, making the stock its 23rd largest position. Citizens Business Bank’s holdings in JPMorgan Chase & Co. were worth $5,974,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of JPM. Mizuho Securities Co. Ltd. bought a new stake in JPMorgan Chase & Co. during the third quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. during the third quarter valued at $27,000. Fairway Wealth LLC bought a new stake in JPMorgan Chase & Co. during the second quarter valued at $32,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the second quarter valued at $34,000. Finally, West Financial Advisors LLC bought a new stake in JPMorgan Chase & Co. during the third quarter valued at $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on JPM shares. Royal Bank of Canada lifted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Evercore ISI lifted their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. Finally, Daiwa Capital Markets decreased their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $234.81.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $242.99 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 business’s 50 day moving average price is $231.34 and its 200-day moving average price is $215.71. JPMorgan Chase & Co. has a 52 week low of $158.15 and a 52 week high of $254.31. The stock has a market cap of $684.10 billion, a P/E ratio of 13.52, a P/E/G ratio of 3.54 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the previous year, the firm posted $4.33 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a $1.25 dividend. The ex-dividend date is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.06%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

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.