Richardson Financial Services Inc. Sells 321 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Richardson Financial Services Inc. lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 5.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,115 shares of the financial services provider’s stock after selling 321 shares during the quarter. Richardson Financial Services Inc.’s holdings in JPMorgan Chase & Co. were worth $1,035,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. grew its holdings in JPMorgan Chase & Co. by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 11,360 shares of the financial services provider’s stock worth $1,932,000 after purchasing an additional 164 shares during the period. Aveo Capital Partners LLC grew its stake in shares of JPMorgan Chase & Co. by 13.0% in the 4th quarter. Aveo Capital Partners LLC now owns 5,151 shares of the financial services provider’s stock worth $876,000 after buying an additional 591 shares during the last quarter. Gryphon Financial Partners LLC increased its position in JPMorgan Chase & Co. by 66.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 25,004 shares of the financial services provider’s stock valued at $4,238,000 after buying an additional 10,025 shares in the last quarter. TrinityPoint Wealth LLC raised its stake in JPMorgan Chase & Co. by 0.6% during the fourth quarter. TrinityPoint Wealth LLC now owns 26,088 shares of the financial services provider’s stock valued at $4,438,000 after buying an additional 160 shares during the last quarter. Finally, Cypress Asset Management Inc. TX bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $10,506,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.3 %

JPM stock opened at $211.09 on Monday. The company has a market cap of $606.18 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 2.33 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The business’s 50-day moving average is $211.61 and its two-hundred day moving average is $201.81. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $4.37 EPS. As a group, analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.66%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on JPM. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Oppenheimer lifted their target price on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Morgan Stanley decreased their price objective on shares of JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Finally, BMO Capital Markets upped their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.