Northwest Bancshares Inc. Sells 6,110 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Northwest Bancshares Inc. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 14.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,877 shares of the financial services provider’s stock after selling 6,110 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.3% of Northwest Bancshares Inc.’s investment portfolio, making the stock its 12th largest position. Northwest Bancshares Inc.’s holdings in JPMorgan Chase & Co. were worth $7,565,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in JPM. WFA Asset Management Corp increased its stake in shares of JPMorgan Chase & Co. by 51.2% in the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 412 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $1,185,000. Freestone Capital Holdings LLC grew its position in JPMorgan Chase & Co. by 4.2% in the 1st quarter. Freestone Capital Holdings LLC now owns 106,829 shares of the financial services provider’s stock valued at $21,398,000 after purchasing an additional 4,296 shares during the period. EP Wealth Advisors LLC grew its position in JPMorgan Chase & Co. by 0.7% in the 1st quarter. EP Wealth Advisors LLC now owns 640,857 shares of the financial services provider’s stock valued at $128,364,000 after purchasing an additional 4,253 shares during the period. Finally, Axxcess Wealth Management LLC grew its position in JPMorgan Chase & Co. by 3.9% in the 1st quarter. Axxcess Wealth Management LLC now owns 167,057 shares of the financial services provider’s stock valued at $33,462,000 after purchasing an additional 6,280 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.5 %

Shares of JPM stock opened at $248.55 on Friday. The stock has a market capitalization of $699.75 billion, a PE ratio of 13.83, a P/E/G ratio of 3.55 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $152.71 and a 1-year high of $249.15. The business has a 50-day moving average of $223.14 and a 200 day moving average of $211.90. 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 issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion during 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%. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.33 EPS. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.01%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Wall Street Analyst Weigh In

JPM has been the topic of a number of recent analyst reports. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Citigroup boosted their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada boosted their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $229.31.

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.