Mengis Capital Management Inc. Sells 366 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Mengis Capital Management Inc. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,354 shares of the financial services provider’s stock after selling 366 shares during the quarter. JPMorgan Chase & Co. makes up 2.4% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 7th largest holding. Mengis Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $12,094,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. WFA Asset Management Corp boosted its position in JPMorgan Chase & Co. by 51.2% during the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 412 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth approximately $1,185,000. Hoey Investments Inc. grew its position in JPMorgan Chase & Co. by 5.9% during the first quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock valued at $4,482,000 after purchasing an additional 1,247 shares in the last quarter. Berkshire Money Management Inc. acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at approximately $302,000. Finally, Barings LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $302,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.4 %

Shares of JPM stock opened at $245.31 on Monday. The stock has a 50 day moving average of $219.50 and a 200-day moving average of $210.17. The firm has a market cap of $690.63 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 3.56 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 12 month low of $150.09 and a 12 month high of $248.00.

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 for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the prior year, the firm earned $4.33 EPS. The business’s revenue was up 6.5% on a year-over-year basis. On average, equities analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.04%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Barclays raised their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a research note on Thursday, November 7th. Finally, Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $227.13.

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.