Concorde Asset Management LLC Sells 624 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Concorde Asset Management LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.9% in the second quarter, Holdings Channel reports. The firm owned 3,303 shares of the financial services provider’s stock after selling 624 shares during the quarter. Concorde Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $668,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Gilbert & Cook Inc. boosted its position in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 11,360 shares of the financial services provider’s stock worth $1,932,000 after purchasing an additional 164 shares in the last quarter. Aveo Capital Partners LLC lifted its holdings in JPMorgan Chase & Co. by 13.0% during the fourth quarter. Aveo Capital Partners LLC now owns 5,151 shares of the financial services provider’s stock worth $876,000 after acquiring an additional 591 shares in the last quarter. Gryphon Financial Partners LLC lifted its holdings in JPMorgan Chase & Co. by 66.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 25,004 shares of the financial services provider’s stock worth $4,238,000 after acquiring an additional 10,025 shares in the last quarter. TrinityPoint Wealth LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.6% in the fourth quarter. TrinityPoint Wealth LLC now owns 26,088 shares of the financial services provider’s stock worth $4,438,000 after acquiring an additional 160 shares in the last quarter. Finally, Cypress Asset Management Inc. TX acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $10,506,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $211.09 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The company’s fifty day simple moving average is $211.61 and its 200 day simple moving average is $201.81. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48. The company has a market cap of $606.18 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same period in the previous year, the business earned $4.37 EPS. On average, research analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.37%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Citigroup increased their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Finally, Oppenheimer boosted their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $211.06.

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.