Norway Savings Bank Reduces Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Norway Savings Bank decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,109 shares of the financial services provider’s stock after selling 167 shares during the period. JPMorgan Chase & Co. accounts for 2.5% of Norway Savings Bank’s portfolio, making the stock its 9th largest position. Norway Savings Bank’s holdings in JPMorgan Chase & Co. were worth $4,662,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Swedbank AB purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $800,130,000. Capital Research Global Investors lifted its stake in shares of JPMorgan Chase & Co. by 23.3% in the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after buying an additional 3,252,451 shares in the last quarter. Wulff Hansen & CO. grew its holdings in shares of JPMorgan Chase & Co. by 19,920.7% during the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after buying an additional 2,787,510 shares during the last quarter. Granite Bay Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 6,239.1% during the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after acquiring an additional 1,396,194 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in JPMorgan Chase & Co. by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after acquiring an additional 1,040,594 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on JPM. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Barclays raised their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday. Finally, Daiwa Capital Markets reduced their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $217.94.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM traded up $2.85 during trading on Tuesday, hitting $224.33. The company had a trading volume of 3,847,707 shares, compared to its average volume of 9,122,278. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $644.20 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The stock has a 50 day simple moving average of $212.32 and a 200 day simple moving average of $203.88.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $4.33 EPS. As a group, analysts anticipate that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.23%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

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.