Wallace Capital Management Inc. Buys 102 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Wallace Capital Management Inc. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,233 shares of the financial services provider’s stock after acquiring an additional 102 shares during the period. Wallace Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $471,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Accredited Investors Inc. grew its stake in shares of JPMorgan Chase & Co. by 4.9% in the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after buying an additional 667 shares in the last quarter. Sunburst Financial Group LLC increased its position in JPMorgan Chase & Co. by 5.0% during the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after buying an additional 268 shares during the last quarter. Sageworth Trust Co raised its stake in JPMorgan Chase & Co. by 37.9% in the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after buying an additional 786 shares during the period. Kingsview Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 2.5% in the third quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock valued at $24,902,000 after buying an additional 2,839 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of JPMorgan Chase & Co. by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after buying an additional 95,461 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 0.9 %

Shares of NYSE:JPM opened at $245.52 on Friday. JPMorgan Chase & Co. has a 52-week low of $156.00 and a 52-week high of $254.31. The business’s 50 day simple moving average is $229.94 and its two-hundred day simple moving average is $214.79. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $691.22 billion, a P/E ratio of 13.66, a PEG ratio of 3.55 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.35. The business 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 19.64% and a return on equity of 16.71%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.33 EPS. As a group, research analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 represents a $5.00 annualized dividend and a yield of 2.04%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Royal Bank of Canada boosted their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Robert W. Baird downgraded 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. Evercore ISI boosted their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Piper Sandler increased their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $234.81.

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.