Washington Trust Bank Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Washington Trust Bank decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,859 shares of the financial services provider’s stock after selling 2,909 shares during the quarter. JPMorgan Chase & Co. comprises approximately 2.1% of Washington Trust Bank’s portfolio, making the stock its 12th biggest holding. Washington Trust Bank’s holdings in JPMorgan Chase & Co. were worth $22,111,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of JPM. Henrickson Nauta Wealth Advisors Inc. boosted its stake in JPMorgan Chase & Co. by 1.3% in the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock worth $725,000 after buying an additional 45 shares during the last quarter. Sunburst Financial Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after purchasing an additional 45 shares in the last quarter. West Wealth Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 3.6% in the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 46 shares in the last quarter. Instrumental Wealth LLC lifted its stake in shares of JPMorgan Chase & Co. by 4.5% in the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 47 shares in the last quarter. Finally, Prossimo Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.5% in the 3rd quarter. Prossimo Advisors LLC now owns 8,740 shares of the financial services provider’s stock valued at $1,843,000 after purchasing an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $236.98 on Monday. JPMorgan Chase & Co. has a twelve month low of $143.70 and a twelve 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. The company has a market capitalization of $667.18 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 3.61 and a beta of 1.10. The business has a 50 day simple moving average of $217.24 and a 200-day simple moving average of $208.35.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.11%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Analysts Set New Price Targets

Several research firms have recently weighed in on JPM. Evercore ISI lifted 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. Barclays lifted 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. Royal Bank of Canada raised their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Oppenheimer raised their target price on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Daiwa Capital Markets dropped their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $224.31.

JPMorgan Chase & Co. Company 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.