Ledyard National Bank Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Ledyard National Bank lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,656 shares of the financial services provider’s stock after selling 1,502 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.7% of Ledyard National Bank’s portfolio, making the stock its 10th largest position. Ledyard National Bank’s holdings in JPMorgan Chase & Co. were worth $18,905,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Worth Asset Management LLC grew its stake in JPMorgan Chase & Co. by 29.1% in the first quarter. Worth Asset Management LLC now owns 2,079 shares of the financial services provider’s stock valued at $416,000 after acquiring an additional 468 shares during the period. CGN Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.6% in the 1st quarter. CGN Advisors LLC now owns 17,490 shares of the financial services provider’s stock worth $3,503,000 after purchasing an additional 101 shares in the last quarter. Strategic Planning Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 15.3% in the 1st quarter. Strategic Planning Group LLC now owns 24,354 shares of the financial services provider’s stock worth $4,878,000 after purchasing an additional 3,233 shares in the last quarter. Strong Tower Advisory Services increased its stake in JPMorgan Chase & Co. by 10.1% during the 1st quarter. Strong Tower Advisory Services now owns 6,548 shares of the financial services provider’s stock valued at $1,303,000 after purchasing an additional 601 shares in the last quarter. Finally, Capital Advisors Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 5.1% during the first quarter. Capital Advisors Wealth Management LLC now owns 4,983 shares of the financial services provider’s stock worth $998,000 after buying an additional 244 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Daiwa Capital Markets lowered their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $220.00 to $224.00 in a report on Monday, September 30th. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Finally, StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Trading Down 0.3 %

Shares of JPM stock opened at $223.42 on Thursday. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.92. 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 company has a 50 day moving average of $214.96 and a 200-day moving average of $205.09. The firm has a market cap of $641.59 billion, a P/E ratio of 12.46, a PEG ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the prior year, the firm earned $4.33 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.75 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 given a $1.25 dividend. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.24%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 27.89%.

JPMorgan Chase & Co. 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.