Cahaba Wealth Management Inc. Has $554,000 Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Cahaba Wealth Management Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 8.4% during the third quarter, HoldingsChannel reports. The firm owned 2,629 shares of the financial services provider’s stock after selling 241 shares during the period. Cahaba Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $554,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of JPM. Meridiem Investment Management Ltd. raised its holdings in shares of JPMorgan Chase & Co. by 385.7% during the third quarter. Meridiem Investment Management Ltd. now owns 1,360 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 1,080 shares during the period. Clarity Wealth Advisors LLC raised its stake in JPMorgan Chase & Co. by 2.9% during the 3rd quarter. Clarity Wealth Advisors LLC now owns 32,633 shares of the financial services provider’s stock worth $6,881,000 after buying an additional 928 shares during the period. Chronos Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 2.4% in the third quarter. Chronos Wealth Management LLC now owns 41,672 shares of the financial services provider’s stock worth $8,787,000 after acquiring an additional 969 shares in the last quarter. Capital Investment Advisors LLC grew its stake in JPMorgan Chase & Co. by 0.9% in the third quarter. Capital Investment Advisors LLC now owns 217,861 shares of the financial services provider’s stock valued at $45,938,000 after acquiring an additional 1,848 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. increased its holdings in shares of JPMorgan Chase & Co. by 5.4% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 144,932 shares of the financial services provider’s stock valued at $30,560,000 after acquiring an additional 7,472 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on JPM shares. BMO Capital Markets boosted their price target on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Royal Bank of Canada boosted their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Evercore ISI raised their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $225.37 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.92. The company has a fifty day moving average of $214.03 and a 200-day moving average of $204.58. The stock has a market capitalization of $647.19 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $4.33 EPS. Equities research analysts expect that JPMorgan Chase & Co. will post 16.75 EPS for the current 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 issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

JPMorgan Chase & Co. Profile

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.