JPMorgan Chase & Co. (NYSE:JPM) is Argent Trust Co’s 3rd Largest Position

Argent Trust Co increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 293,625 shares of the financial services provider’s stock after buying an additional 607 shares during the quarter. JPMorgan Chase & Co. comprises approximately 2.6% of Argent Trust Co’s holdings, making the stock its 3rd largest holding. Argent Trust Co’s holdings in JPMorgan Chase & Co. were worth $59,389,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of JPM. Meiji Yasuda Life Insurance Co raised its position in JPMorgan Chase & Co. by 7.1% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 147,529 shares of the financial services provider’s stock worth $29,839,000 after purchasing an additional 9,827 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of JPMorgan Chase & Co. by 4.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 640,488 shares of the financial services provider’s stock worth $129,545,000 after buying an additional 24,952 shares during the period. Purus Wealth Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 19.6% during the 2nd quarter. Purus Wealth Management LLC now owns 12,622 shares of the financial services provider’s stock worth $2,553,000 after acquiring an additional 2,067 shares during the last quarter. TAM Capital Management Inc. boosted its holdings in JPMorgan Chase & Co. by 65.1% during the 2nd quarter. TAM Capital Management Inc. now owns 118,476 shares of the financial services provider’s stock valued at $23,963,000 after acquiring an additional 46,719 shares during the period. Finally, Meridian Wealth Partners LLC grew its position in JPMorgan Chase & Co. by 5.8% in the 2nd quarter. Meridian Wealth Partners LLC now owns 4,386 shares of the financial services provider’s stock valued at $887,000 after acquiring an additional 241 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $211.09 on Monday. The firm’s fifty day simple moving average is $211.61 and its two-hundred day simple moving average is $201.81. The firm has a market capitalization of $606.18 billion, a P/E ratio of 11.77, a P/E/G ratio of 2.33 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter last year, the firm earned $4.37 EPS. Analysts forecast that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.37%. JPMorgan Chase & Co.’s payout ratio is presently 25.66%.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Oppenheimer upped their target price 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 raised their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. BMO Capital Markets increased their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Finally, Morgan Stanley reduced their price objective on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average 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.