JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by IMS Capital Management

IMS Capital Management cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,445 shares of the financial services provider’s stock after selling 128 shares during the period. JPMorgan Chase & Co. comprises about 1.0% of IMS Capital Management’s holdings, making the stock its 27th largest position. IMS Capital Management’s holdings in JPMorgan Chase & Co. were worth $2,241,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Truist Financial Corp grew its position in shares of JPMorgan Chase & Co. by 0.4% in the 2nd quarter. Truist Financial Corp now owns 2,877,893 shares of the financial services provider’s stock valued at $582,083,000 after buying an additional 11,242 shares during the last quarter. HWG Holdings LP acquired a new position in JPMorgan Chase & Co. in the second quarter valued at $3,804,000. EP Wealth Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.3% during the second quarter. EP Wealth Advisors LLC now owns 649,478 shares of the financial services provider’s stock worth $131,363,000 after purchasing an additional 8,621 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $52,307,000. Finally, Ecofi Investissements SA purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $913,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 0.1 %

Shares of JPM opened at $210.79 on Tuesday. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $605.32 billion, a P/E ratio of 11.76, a PEG ratio of 2.39 and a beta of 1.12. The firm’s 50-day moving average is $211.48 and its two-hundred day moving average is $202.73.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share 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 business had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter in the prior year, the firm posted $4.37 EPS. On average, research analysts predict 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. Stockholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 27.89%.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of research reports. Jefferies Financial Group raised their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Oppenheimer lifted their target price on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Wells Fargo & Company upped their price target 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, Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.31.

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.