William B. Walkup & Associates Inc. Purchases New Shares in JPMorgan Chase & Co. (NYSE:JPM)

William B. Walkup & Associates Inc. purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 30,803 shares of the financial services provider’s stock, valued at approximately $6,230,000. JPMorgan Chase & Co. accounts for approximately 4.1% of William B. Walkup & Associates Inc.’s portfolio, making the stock its 4th largest position.

Several other hedge funds also recently made changes to their positions in JPM. Retirement Group LLC boosted its holdings in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares in the last quarter. Fairway Wealth LLC bought a new stake in JPMorgan Chase & Co. in the second quarter worth $32,000. Richardson Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the first quarter worth $34,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the second quarter worth $34,000. Finally, Davidson Capital Management Inc. bought a new stake in JPMorgan Chase & Co. in the first quarter worth $37,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Up 0.3 %

JPMorgan Chase & Co. stock opened at $210.50 on Monday. The stock has a market cap of $604.49 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.39 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. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48. The stock has a fifty day moving average of $211.47 and a 200 day moving average of $202.57.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the prior year, the business posted $4.37 earnings per share. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 16.72 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a $1.25 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.38%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Piper Sandler boosted their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Jefferies Financial Group boosted their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Barclays boosted their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Morgan Stanley decreased their price target on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $211.06.

About JPMorgan Chase & Co.

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.