First County Bank CT Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

First County Bank CT reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the third quarter, Holdings Channel reports. The firm owned 11,504 shares of the financial services provider’s stock after selling 78 shares during the quarter. JPMorgan Chase & Co. accounts for 1.2% of First County Bank CT’s holdings, making the stock its 17th biggest holding. First County Bank CT’s holdings in JPMorgan Chase & Co. were worth $2,426,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of JPMorgan Chase & Co. by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after buying an additional 1,040,594 shares during the last quarter. International Assets Investment Management LLC bought a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $1,888,088,000. Envestnet Asset Management Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 2.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 7,286,705 shares of the financial services provider’s stock valued at $1,473,809,000 after acquiring an additional 157,577 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of JPMorgan Chase & Co. by 3.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,017,646 shares of the financial services provider’s stock worth $1,479,741,000 after acquiring an additional 261,363 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of JPMorgan Chase & Co. by 3.2% during the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock valued at $1,228,110,000 after purchasing an additional 182,648 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their target price 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. 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 research report on Friday, November 15th. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Finally, Barclays raised their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $250.29 on Tuesday. 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. has a twelve month low of $152.71 and a twelve month high of $254.31. The business has a 50-day moving average price of $223.99 and a 200-day moving average price of $212.38. The firm has a market cap of $704.65 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 3.61 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.33 EPS. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared 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 an increase 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 2.00%. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is currently 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.