Cannon Financial Strategists Inc. Takes $336,000 Position in JPMorgan Chase & Co. (NYSE:JPM)

Cannon Financial Strategists Inc. acquired a new position in JPMorgan Chase & Co. (NYSE:JPM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,663 shares of the financial services provider’s stock, valued at approximately $336,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JPM. Brightwater Advisory LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $485,000. Heritage Wealth Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $6,982,000. Lazari Capital Management Inc. increased its stake in shares of JPMorgan Chase & Co. by 24.4% during the second quarter. Lazari Capital Management Inc. now owns 9,268 shares of the financial services provider’s stock valued at $1,875,000 after acquiring an additional 1,820 shares during the period. Sanctuary Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter worth approximately $128,628,000. Finally, Creekside Partners bought a new position in JPMorgan Chase & Co. during the 2nd quarter valued at $665,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.8 %

NYSE JPM opened at $207.04 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48. The firm’s fifty day simple moving average is $211.42 and its 200-day simple moving average is $202.85. The company has a market capitalization of $594.55 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 2.39 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to the consensus estimate 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 period last year, the business earned $4.37 EPS. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.41%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

Analysts Set New Price Targets

JPM has been the topic of a number of research reports. BMO Capital Markets boosted their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Finally, Oppenheimer increased their target price on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

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.