Costello Asset Management INC Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Costello Asset Management INC cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,476 shares of the financial services provider’s stock after selling 326 shares during the period. Costello Asset Management INC’s holdings in JPMorgan Chase & Co. were worth $1,366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in JPM. Catalyst Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. in the 3rd quarter worth about $27,000. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the second quarter worth approximately $32,000. Anfield Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $34,000. West Financial Advisors LLC bought a new position in JPMorgan Chase & Co. during the third quarter valued at approximately $37,000. Finally, New England Capital Financial Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 38.5% in the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on JPM shares. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Oppenheimer boosted their price target on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $224.31.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $241.93 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a twelve month low of $148.46 and a twelve month high of $248.00. The business has a 50-day moving average price of $218.35 and a 200-day moving average price of $209.33. The firm has a market cap of $681.12 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.35. The business 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%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.33 EPS. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Friday, October 4th. 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.