Wells Trecaso Financial Group LLC Has $13.63 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Wells Trecaso Financial Group LLC lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 64,619 shares of the financial services provider’s stock after selling 288 shares during the period. JPMorgan Chase & Co. comprises about 4.5% of Wells Trecaso Financial Group LLC’s holdings, making the stock its 4th biggest position. Wells Trecaso Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $13,625,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in JPMorgan Chase & Co. in the 3rd quarter worth about $1,888,088,000. Swedbank AB acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth about $800,130,000. Capital Research Global Investors increased its holdings in JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares in the last quarter. Wulff Hansen & CO. increased its holdings in JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after purchasing an additional 2,787,510 shares in the last quarter. Finally, Granite Bay Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 6,239.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after purchasing an additional 1,396,194 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $222.94 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.91 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $634.30 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 3.28 and a beta of 1.11. The stock has a 50 day moving average of $216.15 and a 200 day moving average of $206.54. JPMorgan Chase & Co. has a 12 month low of $139.23 and a 12 month high of $226.75.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The company 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%. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the business posted $4.33 earnings per share. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JPM. Barclays upped their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Piper Sandler increased their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Finally, Royal Bank of Canada increased their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Nine equities 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, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $217.94.

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.