Canal Capital Management LLC Increases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Canal Capital Management LLC boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,924 shares of the financial services provider’s stock after buying an additional 1,531 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.5% of Canal Capital Management LLC’s portfolio, making the stock its 15th biggest position. Canal Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $9,683,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Retirement Group LLC grew its position in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares during the last quarter. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $32,000. Richardson Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the first quarter worth $34,000. Anfield Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the second quarter worth $34,000. Finally, Davidson Capital Management Inc. bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $37,000. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on JPM. Evercore ISI boosted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. BMO Capital Markets increased their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Piper Sandler boosted their target price 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. Finally, StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $222.31 on Monday. The business’s 50-day moving average is $215.39 and its 200 day moving average is $205.52. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.92. The company has a market capitalization of $638.40 billion, a P/E ratio of 12.40, a P/E/G ratio of 3.28 and a beta of 1.11. 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. (NYSE:JPM) last posted its 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. The firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.33 EPS. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared 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. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.25%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 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.