Peapack Gladstone Financial Corp Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

Peapack Gladstone Financial Corp lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 626,101 shares of the financial services provider’s stock after selling 4,101 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.9% of Peapack Gladstone Financial Corp’s portfolio, making the stock its 5th biggest position. Peapack Gladstone Financial Corp’s holdings in JPMorgan Chase & Co. were worth $132,019,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at $1,888,088,000. Fisher Asset Management LLC raised its stake in shares of JPMorgan Chase & Co. by 31.7% during the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after acquiring an additional 4,043,841 shares during the last quarter. Wulff Hansen & CO. boosted 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 worth $566,632,000 after purchasing an additional 2,787,510 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in JPMorgan Chase & Co. by 137.8% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock valued at $922,760,000 after purchasing an additional 2,535,590 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in JPMorgan Chase & Co. by 93.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock worth $567,669,000 after buying an additional 1,301,764 shares during the period. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Down 0.8 %

JPM opened at $241.53 on Friday. JPMorgan Chase & Co. has a 1-year low of $159.77 and a 1-year high of $254.31. The firm’s 50 day simple moving average is $233.51 and its two-hundred day simple moving average is $216.37. The company has a market capitalization of $679.99 billion, a PE ratio of 13.44, a PEG ratio of 3.54 and a beta of 1.11. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the previous year, the firm earned $4.33 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler upped their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Daiwa Capital Markets dropped their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $234.81.

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.