Ironsides Asset Advisors LLC Takes Position in JPMorgan Chase & Co. (NYSE:JPM)

Ironsides Asset Advisors LLC bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the 3rd quarter, Holdings Channel reports. The firm bought 1,031 shares of the financial services provider’s stock, valued at approximately $217,000.

Several other large investors have also modified their holdings of JPM. Walkner Condon Financial Advisors LLC raised its holdings in JPMorgan Chase & Co. by 31.3% during the third quarter. Walkner Condon Financial Advisors LLC now owns 3,637 shares of the financial services provider’s stock worth $767,000 after purchasing an additional 866 shares in the last quarter. Baugh & Associates LLC raised its stake in shares of JPMorgan Chase & Co. by 1.5% during the 3rd quarter. Baugh & Associates LLC now owns 35,402 shares of the financial services provider’s stock worth $7,242,000 after buying an additional 515 shares in the last quarter. Advisors Management Group Inc. ADV lifted its holdings in shares of JPMorgan Chase & Co. by 0.4% in the 3rd quarter. Advisors Management Group Inc. ADV now owns 22,978 shares of the financial services provider’s stock valued at $4,845,000 after buying an additional 100 shares during the period. Advisor Resource Council purchased a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $4,428,000. Finally, Graypoint LLC boosted its stake in shares of JPMorgan Chase & Co. by 2.5% in the third quarter. Graypoint LLC now owns 40,486 shares of the financial services provider’s stock valued at $8,537,000 after buying an additional 994 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Daiwa Capital Markets reduced their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Evercore ISI increased their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average target price of $224.31.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $236.98 on Monday. The stock has a 50-day moving average price of $217.24 and a two-hundred day moving average price of $208.35. The company has a market cap of $667.18 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 3.61 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $143.70 and a 12-month high of $248.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the business posted $4.33 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, research analysts predict that JPMorgan Chase & Co. will post 17.52 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.11%. 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 27.82%.

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.