IMS Capital Management Reduces Holdings in JPMorgan Chase & Co. (NYSE:JPM)

IMS Capital Management lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 10,445 shares of the financial services provider’s stock after selling 128 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.0% of IMS Capital Management’s portfolio, making the stock its 27th biggest holding. IMS Capital Management’s holdings in JPMorgan Chase & Co. were worth $2,241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Retirement Group LLC lifted its position 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 worth $31,000 after buying an additional 109 shares in the last quarter. Fairway Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth $32,000. Richardson Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $34,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $34,000. Finally, Davidson Capital Management Inc. acquired a new stake in JPMorgan Chase & Co. during the first quarter worth about $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Citigroup boosted their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Evercore ISI raised their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. BMO Capital Markets upped their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Finally, Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $210.79 on Tuesday. The firm has a 50 day moving average of $211.48 and a two-hundred day moving average of $202.73. The stock has a market capitalization of $605.32 billion, a PE ratio of 11.76, a P/E/G ratio of 2.39 and a beta of 1.12. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. 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 released its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) 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 firm had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same period last year, the business posted $4.37 earnings per share. On average, research analysts predict that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal 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 given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.37%. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

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.