Magnolia Capital Advisors LLC Increases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Magnolia Capital Advisors LLC lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 432.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 118,798 shares of the financial services provider’s stock after acquiring an additional 96,505 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.8% of Magnolia Capital Advisors LLC’s holdings, making the stock its 22nd biggest holding. Magnolia Capital Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $24,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Capital International Investors boosted its holdings in shares of JPMorgan Chase & Co. by 1.9% in the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after purchasing an additional 778,297 shares during the period. Capital World Investors lifted its position in JPMorgan Chase & Co. by 0.4% in the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after buying an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in JPMorgan Chase & Co. by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after buying an additional 1,040,594 shares during the period. Capital Research Global Investors increased its position in JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after acquiring an additional 3,252,451 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of JPMorgan Chase & Co. by 4.0% in the fourth quarter. Fisher Asset Management LLC now owns 11,836,898 shares of the financial services provider’s stock valued at $2,013,457,000 after acquiring an additional 450,098 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent analyst reports. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Evercore ISI upped their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Jefferies Financial Group boosted their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $211.06.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $210.50 on Friday. The company has a market cap of $604.49 billion, a PE ratio of 11.74, a P/E/G ratio of 2.39 and a beta of 1.12. The firm’s 50 day moving average price is $211.47 and its 200-day moving average price is $202.50. 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 $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter last year, the firm earned $4.37 EPS. Sell-side analysts forecast that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced 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. The ex-dividend date is Friday, October 4th. 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 yield of 2.38%. JPMorgan Chase & Co.’s payout ratio is currently 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.