Tributary Capital Management LLC Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Tributary Capital Management LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.5% during the third quarter, Holdings Channel reports. The fund owned 5,292 shares of the financial services provider’s stock after selling 247 shares during the period. Tributary Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,116,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Capital International Investors increased its position in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after acquiring an additional 778,297 shares during the period. Capital World Investors increased its holdings in JPMorgan Chase & Co. by 0.4% in the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after buying an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in JPMorgan Chase & Co. by 4.8% in 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. Capital Research Global Investors increased its holdings in JPMorgan Chase & Co. by 23.3% in 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 buying an additional 3,252,451 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. in the third quarter valued at $1,888,088,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several recent analyst reports. Barclays increased their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Piper Sandler increased their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada upped their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $224.41 on Thursday. 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. has a 52-week low of $137.47 and a 52-week high of $226.75. The business’s 50-day moving average price is $215.96 and its 200 day moving average price is $206.15. The firm has a market cap of $638.48 billion, a P/E ratio of 12.49, a P/E/G ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating 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 company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the company earned $4.33 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that JPMorgan Chase & Co. will post 16.75 earnings per share for the current 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 issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 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.