Phocas Financial Corp. reduced its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 55.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,437 shares of the financial services provider’s stock after selling 13,252 shares during the period. Phocas Financial Corp.’s holdings in J P Morgan Chase & Co were worth $954,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. Private Vista LLC acquired a new position in J P Morgan Chase & Co in the 2nd quarter valued at $102,000. Atlantic Trust LLC acquired a new position in J P Morgan Chase & Co in the 2nd quarter valued at $136,000. Ullmann Financial Group Inc. acquired a new position in J P Morgan Chase & Co in the 1st quarter valued at $148,000. Northwest Investment Counselors LLC acquired a new position in J P Morgan Chase & Co in the 2nd quarter valued at $165,000. Finally, Capital Advisors Ltd. LLC raised its holdings in J P Morgan Chase & Co by 53.0% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,935 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 670 shares in the last quarter. 73.93% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on JPM shares. Credit Suisse Group reaffirmed a “buy” rating and issued a $110.00 price objective (up from $103.00) on shares of J P Morgan Chase & Co in a report on Monday, October 9th. They noted that the move was a valuation call. Royal Bank of Canada reaffirmed a “buy” rating and issued a $95.00 price objective on shares of J P Morgan Chase & Co in a report on Friday, August 18th. Zacks Investment Research raised J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Thursday, August 24th. Vetr raised J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $93.14 price objective for the company in a report on Wednesday, September 6th. Finally, Jefferies Group reissued a “buy” rating and set a $102.00 price target on shares of J P Morgan Chase & Co in a report on Friday, September 15th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. J P Morgan Chase & Co presently has a consensus rating of “Hold” and a consensus price target of $92.18.
In related news, General Counsel Stacey Friedman sold 2,099 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $101.96, for a total transaction of $214,014.04. Following the sale, the general counsel now owns 15,279 shares in the company, valued at approximately $1,557,846.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.
Shares of J P Morgan Chase & Co (JPM) traded up $1.48 during mid-day trading on Friday, reaching $106.14. The company had a trading volume of 29,350,126 shares, compared to its average volume of 13,738,846. The company has a market cap of $363,141.53, a price-to-earnings ratio of 15.08, a P/E/G ratio of 2.27 and a beta of 1.22. J P Morgan Chase & Co has a twelve month low of $81.64 and a twelve month high of $108.40. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.03 and a quick ratio of 1.03.
J P Morgan Chase & Co (NYSE:JPM) last issued its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.09. The business had revenue of $25.33 billion for the quarter, compared to analyst estimates of $24.91 billion. J P Morgan Chase & Co had a return on equity of 11.68% and a net margin of 24.08%. J P Morgan Chase & Co’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS. sell-side analysts anticipate that J P Morgan Chase & Co will post 6.91 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 5th will be given a dividend of $0.56 per share. The ex-dividend date is Thursday, January 4th. This represents a $2.24 dividend on an annualized basis and a yield of 2.11%. J P Morgan Chase & Co’s dividend payout ratio is currently 32.28%.
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J P Morgan Chase & Co Profile
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
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