JPMorgan Chase & Co. (NYSE:JPM) is Comerica Bank’s 9th Largest Position

Comerica Bank trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,252,169 shares of the financial services provider’s stock after selling 5,686 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.1% of Comerica Bank’s holdings, making the stock its 9th largest position. Comerica Bank’s holdings in JPMorgan Chase & Co. were worth $253,264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Retirement Group LLC grew its holdings in JPMorgan Chase & Co. by 227.1% during 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 during the period. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. during the second quarter valued at $32,000. Richardson Capital Management LLC bought a new position in JPMorgan Chase & Co. during the first quarter valued at $34,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. during the second quarter valued at $34,000. Finally, Davidson Capital Management Inc. bought a new position in JPMorgan Chase & Co. during the first quarter valued at $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Barclays raised their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. BMO Capital Markets raised their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Morgan Stanley cut their price target on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Jefferies Financial Group raised their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods raised their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.06.

JPMorgan Chase & Co. Trading Up 0.3 %

NYSE JPM opened at $210.40 on Friday. The stock’s 50-day simple moving average is $211.47 and its two-hundred day simple moving average is $202.41. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. 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 capitalization of $598.62 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 2.39 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating 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 business had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter last year, the business posted $4.37 earnings per share. 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. Shareholders of record on Friday, October 4th will be given 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 dividend on an annualized basis and a yield of 2.38%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.66%.

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.