Simmons Bank Sells 190 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Simmons Bank cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,116 shares of the financial services provider’s stock after selling 190 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.0% of Simmons Bank’s investment portfolio, making the stock its 21st largest holding. Simmons Bank’s holdings in JPMorgan Chase & Co. were worth $13,730,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC bought a new position in JPMorgan Chase & Co. in the 3rd quarter valued at about $1,888,088,000. Swedbank AB bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth approximately $800,130,000. Capital Research Global Investors lifted its holdings in JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares during the last quarter. Wulff Hansen & CO. boosted its stake in JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after purchasing an additional 2,787,510 shares during the period. Finally, Granite Bay Wealth Management LLC grew its holdings in JPMorgan Chase & Co. by 6,239.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after buying an additional 1,396,194 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.4 %

NYSE JPM opened at $245.31 on Monday. The company has a market cap of $690.63 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 3.56 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $150.09 and a twelve month high of $248.00. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The business’s fifty day moving average is $219.50 and its 200 day moving average is $210.17.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.33 earnings per share. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on JPM shares. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Evercore ISI raised their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Royal Bank of Canada upped their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.