Spinnaker Trust Has $14.55 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Spinnaker Trust lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,011 shares of the financial services provider’s stock after selling 2,045 shares during the quarter. JPMorgan Chase & Co. makes up about 0.9% of Spinnaker Trust’s portfolio, making the stock its 23rd biggest position. Spinnaker Trust’s holdings in JPMorgan Chase & Co. were worth $14,552,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of JPM. Catalyst Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at about $27,000. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $32,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Davidson Capital Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $37,000. Finally, West Financial Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter valued at $37,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $236.98 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $143.70 and a fifty-two week high of $248.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The company has a 50 day simple moving average of $217.24 and a two-hundred day simple moving average of $208.24. The company has a market capitalization of $667.18 billion, a PE ratio of 13.19, a P/E/G ratio of 3.61 and a beta of 1.10.

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, topping the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.33 EPS. Research analysts anticipate that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid 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 yield of 2.11%. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on JPM. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a research report on Thursday. Barclays raised their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday. Piper Sandler boosted their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada lifted their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $224.31.

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.