Valley National Advisers Inc. Sells 12,309 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Valley National Advisers Inc. cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 48.9% during the 3rd quarter, Holdings Channel reports. The firm owned 12,856 shares of the financial services provider’s stock after selling 12,309 shares during the period. Valley National Advisers Inc.’s holdings in JPMorgan Chase & Co. were worth $2,710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in JPM. Henrickson Nauta Wealth Advisors Inc. lifted its position in JPMorgan Chase & Co. by 1.3% during the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after acquiring an additional 45 shares during the period. West Wealth Group LLC lifted its position in JPMorgan Chase & Co. by 3.6% during the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 46 shares during the period. Instrumental Wealth LLC raised its holdings in JPMorgan Chase & Co. by 4.5% in the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after buying an additional 47 shares during the last quarter. Gemmer Asset Management LLC raised its holdings in JPMorgan Chase & Co. by 1.6% in the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after buying an additional 48 shares during the last quarter. Finally, Great Point Wealth Advisors LLC raised its holdings in JPMorgan Chase & Co. by 0.9% in the second quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock worth $1,151,000 after buying an additional 48 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Jefferies Financial Group lifted their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Finally, Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $217.94.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $224.41 on Thursday. The firm has a 50 day moving average of $215.96 and a 200 day moving average of $206.15. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $638.48 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 12-month low of $137.47 and a 12-month high of $226.75.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.33 earnings per share. On average, research analysts anticipate that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company 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 positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

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.