JPMorgan Chase & Co. (NYSE:JPM) Position Reduced by Zions Bancorporation N.A.

Zions Bancorporation N.A. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 9.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,890 shares of the financial services provider’s stock after selling 1,114 shares during the period. Zions Bancorporation N.A.’s holdings in JPMorgan Chase & Co. were worth $2,203,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Capital International Investors grew its stake in JPMorgan Chase & Co. by 1.9% during the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock valued at $8,471,687,000 after acquiring an additional 778,297 shares in the last quarter. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $6,016,878,000. Capital World Investors raised its holdings in shares of JPMorgan Chase & Co. by 0.4% during the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after acquiring an additional 150,812 shares in the last quarter. Capital Research Global Investors boosted its position in JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after purchasing an additional 3,252,451 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in JPMorgan Chase & Co. by 4.0% in the fourth quarter. Fisher Asset Management LLC now owns 11,836,898 shares of the financial services provider’s stock valued at $2,013,457,000 after purchasing an additional 450,098 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM opened at $207.60 on Thursday. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48. The firm has a market capitalization of $596.16 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. The stock’s 50 day moving average price is $211.43 and its two-hundred day moving average price is $201.40. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same quarter in the previous year, the firm posted $4.37 earnings per share. On average, equities analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.66%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JPM. Morgan Stanley reduced their price target on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Oppenheimer raised their price target on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group raised their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $211.06.

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.