VeraBank N.A. Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

VeraBank N.A. trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,071 shares of the financial services provider’s stock after selling 273 shares during the period. JPMorgan Chase & Co. accounts for 1.3% of VeraBank N.A.’s holdings, making the stock its 18th biggest position. VeraBank N.A.’s holdings in JPMorgan Chase & Co. were worth $4,443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. WFA Asset Management Corp boosted its stake in JPMorgan Chase & Co. by 51.2% during the first quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock worth $244,000 after buying an additional 412 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $1,185,000. Hoey Investments Inc. boosted its position in shares of JPMorgan Chase & Co. by 5.9% during the 1st quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock valued at $4,482,000 after acquiring an additional 1,247 shares during the last quarter. Empowered Funds LLC increased its position in JPMorgan Chase & Co. by 8.2% during the first quarter. Empowered Funds LLC now owns 91,066 shares of the financial services provider’s stock worth $18,241,000 after purchasing an additional 6,907 shares during the last quarter. Finally, Lipe & Dalton increased its position in JPMorgan Chase & Co. by 17.6% during the first quarter. Lipe & Dalton now owns 1,800 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JPM. Royal Bank of Canada raised their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Oppenheimer raised their target price on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $224.31.

JPMorgan Chase & Co. Trading Up 0.3 %

JPM opened at $241.93 on Friday. The business has a fifty day moving average price of $218.35 and a 200 day moving average price of $209.33. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 12 month low of $148.46 and a 12 month high of $248.00. The stock has a market capitalization of $681.12 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 3.48 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The business 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 16.71% and a net margin of 19.64%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.33 earnings per share. Sell-side analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

About JPMorgan Chase & Co.

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.