Genesee Capital Advisors LLC Takes Position in JPMorgan Chase & Co. (NYSE:JPM)

Genesee Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the third quarter, HoldingsChannel reports. The institutional investor bought 1,386 shares of the financial services provider’s stock, valued at approximately $292,000.

A number of other hedge funds also recently modified their holdings of JPM. Cherrydale Wealth Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 20.4% during the 1st quarter. Cherrydale Wealth Management LLC now owns 2,370 shares of the financial services provider’s stock worth $475,000 after buying an additional 402 shares during the last quarter. Westend Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $58,000. Game Plan Financial Advisors LLC raised its stake in JPMorgan Chase & Co. by 3.8% in the 1st quarter. Game Plan Financial Advisors LLC now owns 17,743 shares of the financial services provider’s stock worth $3,554,000 after purchasing an additional 650 shares in the last quarter. Baker Boyer National Bank raised its stake in JPMorgan Chase & Co. by 12.4% in the 1st quarter. Baker Boyer National Bank now owns 1,360 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 150 shares in the last quarter. Finally, Lane & Associates LLC raised its stake in JPMorgan Chase & Co. by 2.8% in the 1st quarter. Lane & Associates LLC now owns 2,776 shares of the financial services provider’s stock worth $556,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.5 %

JPM opened at $224.18 on Wednesday. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.92. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $643.76 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 3.28 and a beta of 1.11. The company’s 50 day moving average price is $214.69 and its two-hundred day moving average price is $204.96.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.33 EPS. As a group, research analysts predict that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Oppenheimer dropped their price objective on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Evercore ISI lifted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Piper Sandler lifted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Royal Bank of Canada lifted their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

About JPMorgan Chase & Co.

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.