Pillar Pacific Capital Management LLC Raises Position in JPMorgan Chase & Co. (JPM)
Pillar Pacific Capital Management LLC increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% in the second quarter, Holdings Channel reports. The fund owned 73,576 shares of the financial services provider’s stock after purchasing an additional 645 shares during the period. Pillar Pacific Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $7,666,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Quad Cities Investment Group LLC purchased a new stake in JPMorgan Chase & Co. during the second quarter valued at $124,000. Ballew Advisors Inc raised its stake in JPMorgan Chase & Co. by 104.2% during the second quarter. Ballew Advisors Inc now owns 1,213 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 619 shares in the last quarter. Financial Gravity Wealth Inc. purchased a new stake in JPMorgan Chase & Co. during the first quarter valued at $150,000. Stelac Advisory Services LLC purchased a new stake in JPMorgan Chase & Co. during the first quarter valued at $162,000. Finally, TradeLink Capital LLC purchased a new stake in JPMorgan Chase & Co. during the second quarter valued at $179,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $123.00 price target on the stock in a research note on Friday. Wells Fargo & Co set a $130.00 price target on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Thursday, November 15th. BMO Capital Markets increased their target price on shares of JPMorgan Chase & Co. to $124.00 and gave the company a “market perform” rating in a research note on Monday, October 15th. Bank of America set a $132.00 target price on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Sunday, October 14th. Finally, Vining Sparks reissued a “buy” rating and issued a $125.00 target price on shares of JPMorgan Chase & Co. in a research note on Friday, October 12th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $123.59.
JPM stock opened at $110.83 on Tuesday. The stock has a market capitalization of $377.48 billion, a P/E ratio of 16.13, a P/E/G ratio of 1.78 and a beta of 1.13. JPMorgan Chase & Co. has a 12 month low of $97.76 and a 12 month high of $119.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.17.
JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 12th. The financial services provider reported $2.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.24 by $0.10. The company had revenue of $27.26 billion for the quarter, compared to the consensus estimate of $27.20 billion. JPMorgan Chase & Co. had a net margin of 23.39% and a return on equity of 13.90%. During the same quarter last year, the firm posted $1.76 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 9.26 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, October 5th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Thursday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 46.58%.
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About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
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