Wells Trecaso Financial Group LLC Decreases Position in JPMorgan Chase & Co. (NYSE:JPM)

Wells Trecaso Financial Group LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,619 shares of the financial services provider’s stock after selling 288 shares during the period. JPMorgan Chase & Co. makes up 4.5% of Wells Trecaso Financial Group LLC’s portfolio, making the stock its 4th biggest position. Wells Trecaso Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $13,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. Retirement Group LLC lifted its holdings 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 purchasing an additional 109 shares in the last quarter. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $32,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $34,000. Davidson Capital Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $37,000. Finally, West Financial Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $37,000. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on JPM. Daiwa Capital Markets dropped their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Barclays boosted their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Citigroup boosted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Evercore ISI boosted their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, BMO Capital Markets boosted their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $217.94.

JPMorgan Chase & Co. Stock Up 0.5 %

JPM stock opened at $222.94 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.91 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $634.30 billion, a PE ratio of 12.41, a PEG ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 1-year low of $139.23 and a 1-year high of $226.75. The business’s 50 day simple moving average is $216.15 and its 200 day simple moving average is $206.54.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. The business 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%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.33 EPS. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 17.52 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.24%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

JPMorgan Chase & Co. 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.