Arvest Trust Co. N A Sells 6,390 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Arvest Trust Co. N A cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,205 shares of the financial services provider’s stock after selling 6,390 shares during the quarter. JPMorgan Chase & Co. comprises about 1.6% of Arvest Trust Co. N A’s holdings, making the stock its 17th biggest holding. Arvest Trust Co. N A’s holdings in JPMorgan Chase & Co. were worth $27,549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in JPM. Gilbert & Cook Inc. raised its holdings in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 11,360 shares of the financial services provider’s stock worth $1,932,000 after purchasing an additional 164 shares in the last quarter. Aveo Capital Partners LLC increased its stake in shares of JPMorgan Chase & Co. by 13.0% in the 4th quarter. Aveo Capital Partners LLC now owns 5,151 shares of the financial services provider’s stock worth $876,000 after acquiring an additional 591 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in shares of JPMorgan Chase & Co. by 66.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 25,004 shares of the financial services provider’s stock worth $4,238,000 after acquiring an additional 10,025 shares in the last quarter. TrinityPoint Wealth LLC increased its stake in shares of JPMorgan Chase & Co. by 0.6% in the 4th quarter. TrinityPoint Wealth LLC now owns 26,088 shares of the financial services provider’s stock worth $4,438,000 after acquiring an additional 160 shares in the last quarter. Finally, Tidemark LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $56,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $211.09 on Friday. The firm’s 50-day moving average price is $211.61 and its 200-day moving average price is $201.73. 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 has a market cap of $606.18 billion, a PE ratio of 11.77, a PEG ratio of 2.33 and a beta of 1.12. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter in the prior year, the business earned $4.37 EPS. As a group, analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS 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 paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is 25.66%.

Wall Street Analysts Forecast Growth

JPM has been the subject of several research reports. Barclays increased their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Oppenheimer increased their price target on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Jefferies Financial Group increased their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Morgan Stanley cut their price objective on shares of JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $211.06.

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.