JPMorgan Chase & Co. (NYSE:JPM) is Tower Bridge Advisors’ 5th Largest Position

Tower Bridge Advisors boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,114 shares of the financial services provider’s stock after purchasing an additional 1,582 shares during the quarter. JPMorgan Chase & Co. makes up 2.9% of Tower Bridge Advisors’ investment portfolio, making the stock its 5th biggest holding. Tower Bridge Advisors’ holdings in JPMorgan Chase & Co. were worth $27,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of JPM. Mizuho Securities Co. Ltd. purchased a new position in JPMorgan Chase & Co. in the third quarter valued at $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $27,000. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. during the second quarter worth approximately $32,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the second quarter valued at approximately $34,000. Finally, West Financial Advisors LLC purchased a new position in JPMorgan Chase & Co. in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. 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 report on Monday, October 14th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Evercore ISI lifted their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Daiwa Capital Markets decreased their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $245.17 on Friday. The firm has a market capitalization of $690.24 billion, a PE ratio of 13.64, a P/E/G ratio of 3.53 and a beta of 1.10. The stock’s 50 day moving average is $222.25 and its two-hundred day moving average is $211.36. JPMorgan Chase & Co. has a twelve month low of $152.71 and a twelve month high of $248.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating 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 net margin of 19.64% and a return on equity of 16.71%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.33 EPS. Research analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current 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 issued a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.04%. JPMorgan Chase & Co.’s dividend payout ratio is 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.