Mechanics Financial Corp Buys 75 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Mechanics Financial Corp increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the third quarter, Holdings Channel.com reports. The firm owned 24,123 shares of the financial services provider’s stock after purchasing an additional 75 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.2% of Mechanics Financial Corp’s investment portfolio, making the stock its 8th largest position. Mechanics Financial Corp’s holdings in JPMorgan Chase & Co. were worth $5,087,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mizuho Securities Co. Ltd. acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $27,000. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $32,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the second quarter worth about $34,000. Finally, West Financial Advisors LLC acquired a new position in JPMorgan Chase & Co. during the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $245.17 on Friday. The stock has a market capitalization of $690.24 billion, a PE ratio of 13.64, a P/E/G ratio of 3.53 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $152.71 and a fifty-two week high of $248.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The business has a fifty day moving average price of $222.25 and a two-hundred day moving average price of $211.36.

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 (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $4.33 EPS. As a group, equities analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were 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 was Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.04%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of analyst reports. Daiwa Capital Markets dropped their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $229.31.

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.