Bank of Marin Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Bank of Marin lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,142 shares of the financial services provider’s stock after selling 100 shares during the period. Bank of Marin’s holdings in JPMorgan Chase & Co. were worth $873,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of JPM. Empowered Funds LLC lifted its holdings in JPMorgan Chase & Co. by 8.7% in the third quarter. Empowered Funds LLC now owns 111,062 shares of the financial services provider’s stock valued at $23,419,000 after acquiring an additional 8,893 shares during the period. Empirical Finance LLC lifted its holdings in JPMorgan Chase & Co. by 2.2% in the third quarter. Empirical Finance LLC now owns 101,277 shares of the financial services provider’s stock valued at $21,355,000 after acquiring an additional 2,154 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 4.3% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 33,427 shares of the financial services provider’s stock valued at $7,048,000 after acquiring an additional 1,381 shares during the period. Black Diamond Financial LLC lifted its holdings in JPMorgan Chase & Co. by 21.7% in the third quarter. Black Diamond Financial LLC now owns 7,570 shares of the financial services provider’s stock valued at $1,596,000 after acquiring an additional 1,349 shares during the period. Finally, First Business Financial Services Inc. lifted its holdings in JPMorgan Chase & Co. by 2.4% in the third quarter. First Business Financial Services Inc. now owns 30,907 shares of the financial services provider’s stock valued at $6,517,000 after acquiring an additional 712 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Evercore ISI upped their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Citigroup upped their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $229.31.

JPMorgan Chase & Co. Stock Down 0.8 %

Shares of NYSE:JPM opened at $243.03 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The business has a fifty day moving average of $220.81 and a two-hundred day moving average of $210.92. The stock has a market cap of $684.21 billion, a P/E ratio of 13.52, a PEG ratio of 3.56 and a beta of 1.10. JPMorgan Chase & Co. has a 52-week low of $151.92 and a 52-week high of $248.00.

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, beating the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $4.33 EPS. On average, research analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, October 4th. 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 2.06%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

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.