Wallace Capital Management Inc. Purchases 250 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Wallace Capital Management Inc. grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 13.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,131 shares of the financial services provider’s stock after purchasing an additional 250 shares during the period. Wallace Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $431,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Instrumental Wealth LLC boosted its holdings in JPMorgan Chase & Co. by 4.5% during the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 47 shares during the last quarter. Gemmer Asset Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 1.6% during the 2nd quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after buying an additional 48 shares during the last quarter. Great Point Wealth Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 0.9% during the 2nd quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock worth $1,151,000 after purchasing an additional 48 shares in the last quarter. Northside Capital Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock valued at $1,365,000 after buying an additional 50 shares during the last quarter. Finally, Highland Financial Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 0.7% in the second quarter. Highland Financial Advisors LLC now owns 7,056 shares of the financial services provider’s stock valued at $1,427,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on JPM. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. 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. Oppenheimer lifted their target price on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Evercore ISI increased their price target on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $211.06.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $210.50 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a 50-day moving average of $211.47 and a 200-day moving average of $202.57. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48. The company has a market cap of $604.49 billion, a P/E ratio of 11.74, a P/E/G ratio of 2.39 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data 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. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter in the prior year, the business earned $4.37 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company 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 an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.38%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

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.