CENTRAL TRUST Co Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

CENTRAL TRUST Co lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 170,903 shares of the financial services provider’s stock after selling 4,433 shares during the period. CENTRAL TRUST Co’s holdings in JPMorgan Chase & Co. were worth $36,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Retirement Group LLC grew its holdings in shares of JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares during the last quarter. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at about $32,000. Richardson Capital Management LLC bought a new position in JPMorgan Chase & Co. in the 1st quarter worth about $34,000. Anfield Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the second quarter worth approximately $34,000. Finally, Davidson Capital Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JPM. Oppenheimer dropped their price objective on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Evercore ISI increased their price target 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. Barclays raised their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $222.31 on Friday. The firm’s fifty day simple moving average is $215.39 and its two-hundred day simple moving average is $205.45. The firm has a market capitalization of $638.40 billion, a P/E ratio of 12.40, a P/E/G ratio of 3.28 and a beta of 1.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.92.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter last year, the firm earned $4.33 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. 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 dividend on an annualized basis and a dividend yield of 2.25%. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

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.