JPMorgan Chase & Co. (NYSE:JPM) Stock Holdings Cut by Chemung Canal Trust Co.

Chemung Canal Trust Co. trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 14.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,423 shares of the financial services provider’s stock after selling 9,207 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.4% of Chemung Canal Trust Co.’s portfolio, making the stock its 10th largest holding. Chemung Canal Trust Co.’s holdings in JPMorgan Chase & Co. were worth $11,687,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of JPM. Wellington Wealth Strategies LLC. purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $1,145,000. Cooper Financial Group boosted its holdings in shares of JPMorgan Chase & Co. by 12.8% in the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock worth $1,741,000 after buying an additional 984 shares during the last quarter. Spartan Planning & Wealth Management boosted its holdings in shares of JPMorgan Chase & Co. by 257.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock worth $643,000 after buying an additional 2,722 shares during the last quarter. jvl associates llc boosted its holdings in shares of JPMorgan Chase & Co. by 59.8% in the 1st quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock worth $383,000 after buying an additional 715 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV boosted its holdings in shares of JPMorgan Chase & Co. by 1.3% in the 1st quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock worth $5,201,000 after buying an additional 330 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Citigroup boosted their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $220.00 to $224.00 in a research note on Monday. Finally, Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.13.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock traded up $2.02 during trading on Friday, hitting $207.25. The company had a trading volume of 2,557,030 shares, compared to its average volume of 9,108,169. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock’s 50-day moving average is $211.32 and its two-hundred day moving average is $202.90. The stock has a market capitalization of $595.15 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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 company 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 period in the prior year, the business earned $4.37 earnings per share. As a group, analysts predict that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed 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. This represents a $5.00 annualized dividend and a dividend yield of 2.41%. This is a boost 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 27.89%.

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.