Sierra Summit Advisors LLC Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Sierra Summit Advisors LLC cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 5.1% during the second quarter, HoldingsChannel.com reports. The fund owned 11,728 shares of the financial services provider’s stock after selling 624 shares during the period. Sierra Summit Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $2,372,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Instrumental Wealth LLC increased its stake in shares of JPMorgan Chase & Co. by 4.5% during the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 47 shares during the last quarter. Gemmer Asset Management LLC increased its position in JPMorgan Chase & Co. by 1.6% in the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after buying an additional 48 shares during the last quarter. Great Point Wealth Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 0.9% in the second quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock valued at $1,151,000 after buying an additional 48 shares during the period. Northside Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock valued at $1,365,000 after buying an additional 50 shares during the last quarter. Finally, Highland Financial Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Highland Financial Advisors LLC now owns 7,056 shares of the financial services provider’s stock valued at $1,427,000 after buying an additional 50 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $210.98 on Friday. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a market cap of $605.86 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. The stock has a 50-day moving average price of $211.61 and a 200-day moving average price of $201.64.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period in the previous year, the business posted $4.37 earnings per share. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a $1.25 dividend. The ex-dividend date is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.37%. JPMorgan Chase & Co.’s payout ratio is 25.66%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. BMO Capital Markets raised their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Finally, Barclays raised their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.06.

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.