Patten & Patten Inc. TN Sells 2,796 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Patten & Patten Inc. TN cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 135,029 shares of the financial services provider’s stock after selling 2,796 shares during the period. JPMorgan Chase & Co. makes up about 1.9% of Patten & Patten Inc. TN’s portfolio, making the stock its 9th largest holding. Patten & Patten Inc. TN’s holdings in JPMorgan Chase & Co. were worth $28,472,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of JPM. Catalyst Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $27,000. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $32,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $34,000. West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $37,000. Finally, New England Capital Financial Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 50 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Up 1.5 %

JPM opened at $245.39 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The company’s 50 day simple moving average is $218.84 and its two-hundred day simple moving average is $209.56. JPMorgan Chase & Co. has a 1-year low of $150.09 and a 1-year high of $248.00. The firm has a market capitalization of $690.86 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 3.50 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS 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 firm 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 company earned $4.33 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.04%. 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 dividend payout ratio (DPR) is presently 27.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on JPM shares. Oppenheimer raised their target price on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Evercore ISI raised 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 note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a research note on Thursday, November 7th. Two 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. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average price target of $227.13.

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.