Hofer & Associates. Inc Grows Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Hofer & Associates. Inc grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,338 shares of the financial services provider’s stock after buying an additional 51 shares during the quarter. JPMorgan Chase & Co. accounts for 0.8% of Hofer & Associates. Inc’s investment portfolio, making the stock its 28th largest holding. Hofer & Associates. Inc’s holdings in JPMorgan Chase & Co. were worth $1,126,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Retirement Group LLC raised its position in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares in the last quarter. Fairway Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $32,000. Richardson Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the first quarter worth about $34,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the second quarter worth about $34,000. Finally, Davidson Capital Management Inc. purchased a new position in JPMorgan Chase & Co. in the first quarter valued at about $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on JPM. Daiwa Capital Markets decreased their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. BMO Capital Markets boosted their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $220.00 to $224.00 in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Evercore ISI raised 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. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $224.98 on Friday. The firm has a fifty day simple moving average of $214.96 and a 200-day simple moving average of $205.09. The company has a market capitalization of $646.07 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.92. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its 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. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same period in the previous year, the company earned $4.33 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is 27.89%.

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, 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.