Costello Asset Management INC Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Costello Asset Management INC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,476 shares of the financial services provider’s stock after selling 326 shares during the quarter. Costello Asset Management INC’s holdings in JPMorgan Chase & Co. were worth $1,366,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Catalyst Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $27,000. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at about $32,000. Anfield Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $34,000. West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $37,000. Finally, New England Capital Financial Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 50 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of analyst reports. Daiwa Capital Markets decreased their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $224.31.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $241.93 on Friday. JPMorgan Chase & Co. has a 12 month low of $148.46 and a 12 month high of $248.00. The firm has a market capitalization of $681.12 billion, a P/E ratio of 13.46, a P/E/G ratio of 3.48 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The business has a fifty day simple moving average of $218.35 and a two-hundred day simple moving average of $209.33.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion during 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%. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $4.33 EPS. On average, equities 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 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 was Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.07%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is presently 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.