JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Webster Bank N. A.

Webster Bank N. A. cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the second quarter, HoldingsChannel.com reports. The fund owned 114,068 shares of the financial services provider’s stock after selling 2,187 shares during the period. JPMorgan Chase & Co. makes up 1.8% of Webster Bank N. A.’s portfolio, making the stock its 12th largest position. Webster Bank N. A.’s holdings in JPMorgan Chase & Co. were worth $12,845,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Sandy Cove Advisors LLC boosted its stake in JPMorgan Chase & Co. by 8.5% during the first quarter. Sandy Cove Advisors LLC now owns 4,137 shares of the financial services provider’s stock worth $564,000 after buying an additional 324 shares during the last quarter. Clarity Wealth Advisors LLC boosted its stake in JPMorgan Chase & Co. by 10.2% during the first quarter. Clarity Wealth Advisors LLC now owns 20,997 shares of the financial services provider’s stock worth $2,862,000 after buying an additional 1,944 shares during the last quarter. Financial Strategies Group Inc. boosted its stake in JPMorgan Chase & Co. by 20.0% during the first quarter. Financial Strategies Group Inc. now owns 5,500 shares of the financial services provider’s stock worth $750,000 after buying an additional 916 shares during the last quarter. Alpha Omega Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 1.5% during the first quarter. Alpha Omega Wealth Management LLC now owns 37,664 shares of the financial services provider’s stock worth $5,134,000 after buying an additional 557 shares during the last quarter. Finally, Cordant Inc. acquired a new position in JPMorgan Chase & Co. during the first quarter worth $47,000. 68.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on JPM shares. Piper Sandler reduced their target price on JPMorgan Chase & Co. from $170.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. Royal Bank of Canada set a $130.00 target price on JPMorgan Chase & Co. in a research report on Tuesday, September 6th. Oppenheimer reduced their target price on JPMorgan Chase & Co. from $154.00 to $153.00 and set an “outperform” rating on the stock in a research report on Friday, July 15th. Wells Fargo & Company reduced their target price on JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 14th. Finally, Evercore ISI reduced their target price on JPMorgan Chase & Co. from $135.00 to $125.00 in a research report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $145.95.

JPMorgan Chase & Co. Trading Down 2.9 %

NYSE:JPM opened at $112.49 on Thursday. The stock has a 50-day simple moving average of $116.03 and a 200-day simple moving average of $122.29. The stock has a market cap of $329.89 billion, a P/E ratio of 9.03, a P/E/G ratio of 2.09 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $106.06 and a 1 year high of $172.96. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.83 and a current ratio of 0.83.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last released its quarterly earnings data on Thursday, July 14th. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.09). The business had revenue of $30.72 billion for the quarter, compared to analyst estimates of $31.82 billion. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.78 earnings per share. As a group, analysts anticipate that JPMorgan Chase & Co. will post 11.32 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, October 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.56%. JPMorgan Chase & Co.’s dividend payout ratio is currently 32.10%.

JPMorgan Chase & Co. Profile

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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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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