Bretton Capital Management LLC Acquires Shares of 24,000 JPMorgan Chase & Co. (NYSE:JPM)

Bretton Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) during the third quarter, Holdings Channel.com reports. The firm bought 24,000 shares of the financial services provider’s stock, valued at approximately $5,061,000. JPMorgan Chase & Co. accounts for approximately 4.8% of Bretton Capital Management LLC’s holdings, making the stock its 10th largest holding.

Several other hedge funds have also modified their holdings of JPM. Zions Bancorporation N.A. lifted its holdings in JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock worth $2,353,000 after buying an additional 267 shares in the last quarter. KBC Group NV raised its position in shares of JPMorgan Chase & Co. by 48.9% during the third quarter. KBC Group NV now owns 1,560,884 shares of the financial services provider’s stock worth $329,129,000 after acquiring an additional 512,774 shares during the last quarter. Summit Asset Management LLC boosted its holdings in JPMorgan Chase & Co. by 15.5% in the third quarter. Summit Asset Management LLC now owns 8,958 shares of the financial services provider’s stock valued at $1,889,000 after acquiring an additional 1,200 shares during the last quarter. BCM Advisors LLC increased its position in JPMorgan Chase & Co. by 382.1% in the third quarter. BCM Advisors LLC now owns 6,099 shares of the financial services provider’s stock worth $1,340,000 after purchasing an additional 4,834 shares during the period. Finally, ROI Financial Advisors LLC raised its holdings in JPMorgan Chase & Co. by 10.5% during the 3rd quarter. ROI Financial Advisors LLC now owns 6,227 shares of the financial services provider’s stock worth $1,313,000 after purchasing an additional 591 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

JPM has been the subject of several analyst reports. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a research report on Thursday, November 7th. Evercore ISI lifted their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Royal Bank of Canada upped their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $227.13.

JPMorgan Chase & Co. Trading Down 0.1 %

Shares of NYSE:JPM opened at $245.18 on Tuesday. The firm has a market cap of $690.27 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 3.56 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $151.92 and a 12 month high of $248.00. The company’s fifty day simple moving average is $220.06 and its 200 day simple moving average is $210.55. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly 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 firm had revenue of $43.32 billion for 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 company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $4.33 EPS. As a group, research analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company 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 boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.04%. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

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.