Arden Trust Co decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,563 shares of the financial services provider’s stock after selling 254 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.0% of Arden Trust Co’s portfolio, making the stock its 16th largest holding. Arden Trust Co’s holdings in JPMorgan Chase & Co. were worth $5,831,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in JPM. NuWave Investment Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth $30,000. Laidlaw Wealth Management LLC lifted its position in JPMorgan Chase & Co. by 20,306.8% during the 2nd quarter. Laidlaw Wealth Management LLC now owns 2,810,830 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 2,797,056 shares during the last quarter. Provident Wealth Management LLC bought a new stake in JPMorgan Chase & Co. during the third quarter valued at about $34,000. FAI Wealth Management grew its position in shares of JPMorgan Chase & Co. by 317.0% in the second quarter. FAI Wealth Management now owns 417 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 317 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 18.3% in the second quarter. Bay Harbor Wealth Management LLC now owns 692 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 107 shares during the period. 69.35% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their target price for the company from $105.00 to $115.00 in a report on Thursday, September 3rd. Independent Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $110.00 in a research note on Tuesday, September 29th. DA Davidson upgraded shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and upped their target price for the company from $102.00 to $117.00 in a research note on Thursday, July 9th. Morgan Stanley restated a “buy” rating and issued a $106.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, July 27th. Finally, Berenberg Bank boosted their price objective on shares of JPMorgan Chase & Co. from $77.00 to $80.00 and gave the stock a “sell” rating in a report on Monday, July 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the stock. JPMorgan Chase & Co. presently has a consensus rating of “Buy” and an average price target of $111.59.
JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Monday, October 19th. The financial services provider reported $2.92 EPS for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.69. The firm had revenue of $29.90 billion for the quarter, compared to analyst estimates of $28.20 billion. JPMorgan Chase & Co. had a net margin of 18.16% and a return on equity of 10.75%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.68 earnings per share. On average, analysts forecast that JPMorgan Chase & Co. will post 6.48 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Tuesday, October 6th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Monday, October 5th. JPMorgan Chase & Co.’s payout ratio is currently 34.35%.
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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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