Arrow Financial Corp Lowers Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Arrow Financial Corp trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,723 shares of the financial services provider’s stock after selling 422 shares during the quarter. JPMorgan Chase & Co. makes up approximately 0.8% of Arrow Financial Corp’s investment portfolio, making the stock its 29th biggest holding. Arrow Financial Corp’s holdings in JPMorgan Chase & Co. were worth $8,376,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Catalyst Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $27,000. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. during the second quarter valued at approximately $32,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $34,000. West Financial Advisors LLC purchased a new position in JPMorgan Chase & Co. in the third quarter worth $37,000. Finally, New England Capital Financial Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 38.5% during the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $241.93 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $681.12 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 3.48 and a beta of 1.10. The firm’s 50 day simple moving average is $218.35 and its 200-day simple moving average is $209.33. JPMorgan Chase & Co. has a 12 month low of $148.46 and a 12 month high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data 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 company had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the previous year, the company earned $4.33 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 represents a $5.00 dividend on an annualized basis and a yield of 2.07%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Wall Street Analyst Weigh In

JPM has been the topic of several research analyst reports. Daiwa Capital Markets dropped their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Evercore ISI boosted their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada increased their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research note on Thursday, November 7th. Two investment 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $224.31.

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.