Wesbanco Bank Inc. lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,552 shares of the financial services provider's stock after purchasing an additional 4,907 shares during the period. JPMorgan Chase & Co. comprises approximately 1.6% of Wesbanco Bank Inc.'s holdings, making the stock its 10th biggest holding. Wesbanco Bank Inc.'s holdings in JPMorgan Chase & Co. were worth $36,210,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of JPM. Dravo Bay LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $26,000. Advanced Research Investment Solutions LLC boosted its position in JPMorgan Chase & Co. by 118.2% during the first quarter. Advanced Research Investment Solutions LLC now owns 288 shares of the financial services provider's stock worth $39,000 after acquiring an additional 156 shares during the last quarter. Activest Wealth Management boosted its position in JPMorgan Chase & Co. by 284.0% during the second quarter. Activest Wealth Management now owns 361 shares of the financial services provider's stock worth $41,000 after acquiring an additional 267 shares during the last quarter. Swaine & Leidel Wealth Services LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter worth approximately $44,000. Finally, Landmark Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter worth approximately $46,000. 68.57% of the stock is owned by hedge funds and other institutional investors.
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JPMorgan Chase & Co. Price Performance
JPM opened at $106.16 on Friday. The company has a 50-day moving average of $115.43 and a 200-day moving average of $121.35. The company has a market capitalization of $311.32 billion, a P/E ratio of 8.52, a PEG ratio of 1.87 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $104.40 and a 1-year high of $172.96. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.83 and a current ratio of 0.83.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.09). JPMorgan Chase & Co. had a return on equity of 15.29% and a net
margin of 30.41%. The company had revenue of $30.72 billion during the quarter, compared to the consensus estimate of $31.82 billion. During the same period in the previous year, the firm posted $3.78 EPS. JPMorgan Chase & Co.'s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts expect that JPMorgan Chase & Co. will post 11.34 EPS for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Thursday, October 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Wednesday, October 5th. JPMorgan Chase & Co.'s dividend payout ratio is presently 32.10%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on JPM shares. Barclays set a $200.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, July 18th. Oppenheimer decreased their price target on shares of JPMorgan Chase & Co. from $154.00 to $153.00 and set an "outperform" rating on the stock in a report on Friday, July 15th. Jefferies Financial Group set a $117.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, September 12th. Berenberg Bank upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating and set a $120.00 price target on the stock in a report on Monday, July 18th. Finally, Royal Bank of Canada set a $130.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $145.95.
JPMorgan Chase & Co. Company Profile
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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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.
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