First Citizens Bank & Trust Co. Sells 5,300 Shares of JPMorgan Chase & Co. (NYSE:JPM)

First Citizens Bank & Trust Co. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.2% in the third quarter, Holdings Channel reports. The fund owned 162,013 shares of the financial services provider’s stock after selling 5,300 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.5% of First Citizens Bank & Trust Co.’s investment portfolio, making the stock its 20th largest holding. First Citizens Bank & Trust Co.’s holdings in JPMorgan Chase & Co. were worth $34,162,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in JPM. RFG Advisory LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.3% in the first quarter. RFG Advisory LLC now owns 29,401 shares of the financial services provider’s stock worth $5,889,000 after acquiring an additional 85 shares during the last quarter. First Affirmative Financial Network lifted its holdings in shares of JPMorgan Chase & Co. by 3.9% in the first quarter. First Affirmative Financial Network now owns 2,694 shares of the financial services provider’s stock worth $540,000 after acquiring an additional 100 shares during the last quarter. Meyer Handelman Co. lifted its holdings in shares of JPMorgan Chase & Co. by 8.6% in the first quarter. Meyer Handelman Co. now owns 283,626 shares of the financial services provider’s stock worth $56,810,000 after acquiring an additional 22,518 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in shares of JPMorgan Chase & Co. by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 246,585 shares of the financial services provider’s stock valued at $49,390,000 after buying an additional 4,033 shares during the period. Finally, O Connor Financial Group LLC acquired a new position in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $209,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $225.37 on Monday. The company has a market cap 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. has a 52 week low of $135.19 and a 52 week high of $225.92. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm has a 50 day moving average of $214.03 and a 200-day moving average of $204.58.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period last year, the business earned $4.33 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a $1.25 dividend. This is a boost 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 2.22%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Analyst Upgrades and Downgrades

JPM has been the subject of several recent research reports. Barclays upped their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

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.