Texas Capital Bancshares Inc. TX reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 5.2% during the first quarter, HoldingsChannel.com reports. The company held 9,946 shares of the financial services provider after selling 544 shares during the period. JPMorgan Chase & Co. accounts for about 0.8% of Texas Capital Bancshares Inc. TX’s portfolio, making the stock its 21st largest holding. Texas Capital Bancshares Inc. TX’s holdings in JPMorgan Chase & Co. were worth $1,356,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also changed their positions in JPM. Landmark Wealth Management LLC acquired a new equity stake in JPMorgan Chase & Co. during Q1 valued at approximately $46,000. Evolution Advisers Inc. bought a new position in JPMorgan Chase & Co. during Q4 worth $52,000. Leverty Financial Group LLC bought a new position in JPMorgan Chase & Co. during Q4 worth $54,000. Delos Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. by 13,433.3% during the 4th quarter. Delos Wealth Advisors LLC now owns 406 shares of the financial services provider worth $64,000 after buying 403 additional shares in the last quarter. Finally, Bromfield Sneider Wealth Advisors bought a new position in JPMorgan Chase & Co. during Q1 worth $76,000. 70.35% of the shares are held by institutional investors and hedge funds.
Analysts set new price targets
JPM has been the subject of a number of recent research reports. Morgan Stanley lowered its price target on JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating for the company in a Tuesday, July 12 research note. BMO Capital Markets raised its price target on JPMorgan Chase & Co. from $150.00 to $156.00 in a Tuesday, May 24 research note. Berenberg Bank upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a price target of $120.00 for the company in a Monday, July 18 research note. Goldman Sachs Group has set a price target of $151.00 on JPMorgan Chase & Co. and assigned the stock a “buy” rating in a Thursday, April 14 research note. Finally, UBS Group lowered its price target on JPMorgan Chase & Co. from $134.00 to $126.00 and set a “buy” rating for the company in a Friday, July 15 research note. One stock research analyst gave the stock a sell rating, eight gave the company a hold rating and nine gave the company a buy rating. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus price target of $145.95.
JPMorgan Chase & Co. down 1.6%
Shares of JPM opened at $113.42 on Wednesday. The stock has a 50-day simple moving average of $118.60 and a 200-day simple moving average of $131.94. JPMorgan Chase & Co. has a fifty-two week low of $106.06 and a fifty-two week high of $172.96. The stock has a market capitalization of $333.12 billion, a P/E ratio of 9.10, a P/E/G ratio of 2.04 and a beta of 1.15. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt ratio of 1.14.
JPMorgan Chase & Co. (NYSE: JPM – Get Rating) last reported results on Thursday, July 14. The financial services provider reported earnings per share of $2.76 for the quarter, matching the consensus estimate of $2.76. JPMorgan Chase & Co. achieved a return on equity of 15.29% and a net margin of 30.41%. The company posted revenue of $30.72 billion in the quarter, compared to $31.82 billion expected by analysts. In the same quarter last year, the company posted earnings per share of $3.78. The company’s quarterly revenue increased 0.8% year over year. On average, sell-side analysts expect JPMorgan Chase & Co. to post earnings per share of 11.24 for the current fiscal year.
JPMorgan Chase & Co. dividend announcement
The company also recently announced a quarterly dividend, which will be paid on Sunday, July 31. Shareholders of record on Wednesday, July 6 will receive a dividend of $1.00 per share. This represents an annualized dividend of $4.00 and a dividend yield of 3.53%. The ex-dividend date is Tuesday, July 5. JPMorgan Chase & Co.’s dividend payout ratio is 32.10%.
About JPMorgan Chase & Co.
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JPMorgan Chase & Co operates as a worldwide financial services company. 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 s deposit, investment and lending products, payments and consumer services; lending, deposit, cash management and payment solutions for small businesses; mortgage origination and management activities; residential mortgages and home equity loans; and credit card, car loan and leasing services.
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