Wallace Capital Management Inc. Boosts Position in JPMorgan Chase & Co. (NYSE:JPM)

Wallace Capital Management Inc. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 13.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,131 shares of the financial services provider’s stock after buying an additional 250 shares during the period. Wallace Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $431,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of JPM. Kampmann Melissa S. lifted its stake in JPMorgan Chase & Co. by 1.4% in the 2nd quarter. Kampmann Melissa S. now owns 22,051 shares of the financial services provider’s stock worth $4,460,000 after purchasing an additional 304 shares in the last quarter. High Falls Advisors Inc grew its position in JPMorgan Chase & Co. by 6.4% during the second quarter. High Falls Advisors Inc now owns 6,111 shares of the financial services provider’s stock worth $1,236,000 after buying an additional 368 shares in the last quarter. Quarry LP increased its stake in JPMorgan Chase & Co. by 1,062.1% in the 2nd quarter. Quarry LP now owns 337 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 308 shares during the last quarter. Invst LLC raised its holdings in shares of JPMorgan Chase & Co. by 12.2% in the 2nd quarter. Invst LLC now owns 14,829 shares of the financial services provider’s stock valued at $3,047,000 after acquiring an additional 1,614 shares in the last quarter. Finally, Second Line Capital LLC grew its holdings in shares of JPMorgan Chase & Co. by 8.9% during the second quarter. Second Line Capital LLC now owns 21,405 shares of the financial services provider’s stock worth $4,329,000 after purchasing an additional 1,752 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Barclays lifted their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.06.

JPMorgan Chase & Co. Stock Up 0.3 %

Shares of JPMorgan Chase & Co. stock opened at $210.50 on Monday. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The firm has a market cap of $604.49 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.39 and a beta of 1.12. The company has a 50-day moving average of $211.47 and a 200 day moving average of $202.57. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same period in the previous year, the firm posted $4.37 EPS. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

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.