RB Capital Management LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.0% during the second quarter, HoldingsChannel.com reports. The firm owned 13,833 shares of the financial services provider’s stock after purchasing an additional 1,259 shares during the period. JPMorgan Chase & Co. accounts for about 1.1% of RB Capital Management LLC’s portfolio, making the stock its 22nd largest position. RB Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,441,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of JPM. Financial Gravity Wealth Inc. acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $150,000. Stelac Advisory Services LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $162,000. Private Ocean LLC grew its stake in JPMorgan Chase & Co. by 94.7% in the 1st quarter. Private Ocean LLC now owns 1,694 shares of the financial services provider’s stock valued at $186,000 after acquiring an additional 824 shares during the last quarter. Avenir Corp acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $201,000. Finally, Reilly Herbert Faulkner III acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $202,000. 70.62% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the stock. Wolfe Research assumed coverage on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 25th. They issued an “outperform” rating on the stock. Citigroup increased their price objective on shares of JPMorgan Chase & Co. from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, September 26th. Zacks Investment Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $127.00 price objective on the stock in a research note on Friday, September 14th. Bank of America increased their price objective on shares of JPMorgan Chase & Co. from $126.00 to $132.00 and gave the company a “buy” rating in a research note on Monday, September 17th. Finally, DZ Bank upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. JPMorgan Chase & Co. has an average rating of “Buy” and a consensus target price of $123.44.
NYSE:JPM opened at $107.91 on Friday. The stock has a market capitalization of $376.93 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 1.78 and a beta of 1.17. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.01 and a current ratio of 1.01. JPMorgan Chase & Co. has a 12-month low of $95.95 and a 12-month high of $119.33.
JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 12th. The financial services provider reported $2.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.24 by $0.10. The company had revenue of $27.26 billion for the quarter, compared to analyst estimates of $27.20 billion. JPMorgan Chase & Co. had a net margin of 23.39% and a return on equity of 13.90%. During the same period in the prior year, the firm earned $1.76 EPS. Analysts forecast that JPMorgan Chase & Co. will post 9.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, October 5th will be issued a dividend of $0.80 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. This represents a $3.20 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 46.58%.
JPMorgan Chase & Co. Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
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