Texas capital

JPMorgan Chase & Co. (NYSE:JPM) shares sold by Texas Capital Bancshares Inc. TX


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.

Further reading

Want to see what other hedge funds hold JPM? Visit HoldingsChannel.com for the latest 13F filings and insider trading for JPMorgan Chase & Co. (NYSE:JPM – Get Rating).

Institutional ownership by quarter for JPMorgan Chase & Co. (NYSE: JPM)



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