MidAtlantic Capital Management Inc. Makes New Investment in JPMorgan Chase & Co. (NYSE:JPM)

MidAtlantic Capital Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 643 shares of the financial services provider’s stock, valued at approximately $136,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mizuho Securities Co. Ltd. acquired a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $27,000. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $32,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $34,000. Finally, West Financial Advisors LLC bought a new stake in JPMorgan Chase & Co. during the third quarter worth approximately $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $248.56 on Friday. The stock has a market capitalization of $699.78 billion, a P/E ratio of 13.83, a P/E/G ratio of 3.53 and a beta of 1.10. The business has a 50-day moving average of $223.14 and a two-hundred day moving average of $211.76. JPMorgan Chase & Co. has a fifty-two week low of $152.71 and a fifty-two week high of $249.15. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

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 16.71% and a net margin of 19.64%. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the prior year, the business earned $4.33 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal 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 paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This is a positive change 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 2.01%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on JPM shares. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Royal Bank of Canada lifted their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Daiwa Capital Markets cut their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $229.31.

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.