JPMorgan Chase & Co. (NYSE:JPM) Stake Lowered by Cardinal Capital Management

Cardinal Capital Management decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,167 shares of the financial services provider’s stock after selling 1,021 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.8% of Cardinal Capital Management’s investment portfolio, making the stock its 12th biggest holding. Cardinal Capital Management’s holdings in JPMorgan Chase & Co. were worth $5,555,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. David R. Rahn & Associates Inc. bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $1,458,000. Ironwood Investment Management LLC lifted its position in shares of JPMorgan Chase & Co. by 61.9% during the 2nd quarter. Ironwood Investment Management LLC now owns 6,668 shares of the financial services provider’s stock worth $609,000 after buying an additional 2,550 shares in the last quarter. Gamble Jones Investment Counsel lifted its position in shares of JPMorgan Chase & Co. by 0.6% during the 2nd quarter. Gamble Jones Investment Counsel now owns 49,959 shares of the financial services provider’s stock worth $4,566,000 after buying an additional 276 shares in the last quarter. Grove Bank & Trust lifted its position in shares of JPMorgan Chase & Co. by 16.9% during the 2nd quarter. Grove Bank & Trust now owns 9,787 shares of the financial services provider’s stock worth $895,000 after buying an additional 1,417 shares in the last quarter. Finally, Lee Danner & Bass Inc. lifted its position in shares of JPMorgan Chase & Co. by 0.4% during the 2nd quarter. Lee Danner & Bass Inc. now owns 17,494 shares of the financial services provider’s stock worth $1,599,000 after buying an additional 69 shares in the last quarter. 73.76% of the stock is currently owned by institutional investors and hedge funds.

In related news, General Counsel Stacey Friedman sold 2,099 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $101.96, for a total value of $214,014.04. Following the completion of the transaction, the general counsel now directly owns 15,279 shares in the company, valued at approximately $1,557,846.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is currently owned by insiders.

Several equities analysts have commented on the stock. Vining Sparks reissued a “buy” rating and set a $120.00 target price on shares of JPMorgan Chase & Co. in a research report on Friday. Argus lifted their target price on shares of JPMorgan Chase & Co. from $109.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday. Nomura set a $115.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “neutral” rating in a research report on Friday. Vetr cut shares of JPMorgan Chase & Co. from a “sell” rating to a “strong sell” rating and set a $93.51 price target on the stock. in a report on Wednesday. Finally, Societe Generale cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $102.52.

JPMorgan Chase & Co. (NYSE:JPM) opened at $112.67 on Friday. JPMorgan Chase & Co. has a one year low of $81.64 and a one year high of $112.85. The firm has a market cap of $390,934.03, a P/E ratio of 16.12, a P/E/G ratio of 2.05 and a beta of 1.22. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.37.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.07. JPMorgan Chase & Co. had a net margin of 24.08% and a return on equity of 11.68%. The business had revenue of $24.15 billion during the quarter, compared to analyst estimates of $24.87 billion. During the same period in the previous year, the business earned $1.71 EPS. JPMorgan Chase & Co.’s revenue was up 3.3% compared to the same quarter last year. equities analysts predict that JPMorgan Chase & Co. will post 8.25 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 5th will be paid a $0.56 dividend. The ex-dividend date is Thursday, January 4th. This represents a $2.24 dividend on an annualized basis and a yield of 1.99%. JPMorgan Chase & Co.’s dividend payout ratio is 35.56%.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The legal version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/01/14/cardinal-capital-management-decreases-holdings-in-jpmorgan-chase-co-jpm.html.

About JPMorgan Chase & Co.

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.

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply