JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 19.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 117,172 shares of the financial services provider’s stock after selling 28,225 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in JPMorgan Chase & Co. were worth $24,697,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter worth about $27,000. Fairway Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $32,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter worth approximately $34,000. West Financial Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the third quarter valued at approximately $37,000. Finally, New England Capital Financial Advisors LLC increased its position in 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 during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on JPM shares. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank of Canada raised their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Daiwa Capital Markets decreased their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average target price of $227.13.

JPMorgan Chase & Co. Price Performance

JPM opened at $245.31 on Friday. JPMorgan Chase & Co. has a twelve month low of $150.09 and a twelve month high of $248.00. The firm has a market cap of $690.63 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 3.50 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a fifty day simple moving average of $219.50 and a 200 day simple moving average of $209.92.

JPMorgan Chase & Co. (NYSE:JPM) last announced 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. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period last year, the firm earned $4.33 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. Equities research 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 disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued 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 annualized dividend and a yield of 2.04%. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

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.