Weik Capital Management Sells 50 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Weik Capital Management decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,992 shares of the financial services provider’s stock after selling 50 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.3% of Weik Capital Management’s portfolio, making the stock its 22nd largest holding. Weik Capital Management’s holdings in JPMorgan Chase & Co. were worth $3,032,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in JPM. Retirement Group LLC raised its stake in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares in the last quarter. Richardson Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $34,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Davidson Capital Management Inc. bought a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $37,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $40,000. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on JPM. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Morgan Stanley reduced their price target on shares of JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, BMO Capital Markets increased their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $211.06.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $210.48 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The company’s fifty day simple moving average is $211.49 and its 200 day simple moving average is $201.47. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48. The firm has a market cap of $604.43 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the prior year, the company earned $4.37 EPS. On average, analysts expect that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a $1.25 dividend. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.38%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 25.66%.

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.