MEMBERS Trust Co Acquires New Position in J P Morgan Chase & Co (NYSE:JPM)
MEMBERS Trust Co acquired a new stake in J P Morgan Chase & Co (NYSE:JPM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,338 shares of the financial services provider’s stock, valued at approximately $557,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in JPM. Pacific Center for Financial Services purchased a new position in shares of J P Morgan Chase & Co during the fourth quarter valued at about $106,000. Thomas J. Herzfeld Advisors Inc. purchased a new position in shares of J P Morgan Chase & Co during the fourth quarter valued at about $125,000. Glacier Peak Capital LLC purchased a new position in shares of J P Morgan Chase & Co during the fourth quarter valued at about $129,000. Tortoise Investment Management LLC boosted its position in shares of J P Morgan Chase & Co by 434.9% in the fourth quarter. Tortoise Investment Management LLC now owns 1,578 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,283 shares during the period. Finally, Horrell Capital Management Inc. boosted its position in shares of J P Morgan Chase & Co by 5.0% in the first quarter. Horrell Capital Management Inc. now owns 1,647 shares of the financial services provider’s stock valued at $145,000 after buying an additional 78 shares during the period. 74.06% of the stock is currently owned by institutional investors.
J P Morgan Chase & Co (NYSE JPM) traded down 0.15% during trading on Friday, hitting $92.05. The company’s stock had a trading volume of 2,933,743 shares. J P Morgan Chase & Co has a one year low of $64.86 and a one year high of $95.22. The company has a 50-day moving average of $91.75 and a 200 day moving average of $88.44. The firm has a market cap of $323.88 billion, a PE ratio of 13.58 and a beta of 1.19.
J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.23. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 earnings per share. On average, equities analysts forecast that J P Morgan Chase & Co will post $6.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Thursday, July 6th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, July 3rd. This represents a $2.00 annualized dividend and a yield of 2.17%. J P Morgan Chase & Co’s dividend payout ratio is currently 29.59%.
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Several brokerages recently issued reports on JPM. BidaskClub raised J P Morgan Chase & Co from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Keefe, Bruyette & Woods increased their price objective on J P Morgan Chase & Co to $47.00 and gave the stock a “buy” rating in a research note on Monday, April 17th. Vetr cut J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 price objective on the stock. in a research note on Monday, June 12th. Vining Sparks raised J P Morgan Chase & Co to an “outperform” rating and set a $95.00 price objective on the stock in a research note on Thursday, April 27th. Finally, Zacks Investment Research cut J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $85.53.
In related news, insider Nicole Giles sold 1,000 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $91.29, for a total transaction of $91,290.00. Following the completion of the transaction, the insider now directly owns 3,783 shares of the company’s stock, valued at $345,350.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marianne Lake sold 17,596 shares of the stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $91.58, for a total transaction of $1,611,441.68. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.
J P Morgan Chase & Co Company Profile
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
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