Stonebridge Capital Management Inc. Sells 8,960 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Stonebridge Capital Management Inc. trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 29.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,111 shares of the financial services provider’s stock after selling 8,960 shares during the period. JPMorgan Chase & Co. accounts for about 1.2% of Stonebridge Capital Management Inc.’s investment portfolio, making the stock its 26th largest position. Stonebridge Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,485,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Personal Wealth Partners bought a new position in JPMorgan Chase & Co. in the 2nd quarter worth approximately $28,000. MRA Associates USA LLC bought a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $30,000. Global Trust Asset Management LLC increased its position in shares of JPMorgan Chase & Co. by 2,027.2% during the second quarter. Global Trust Asset Management LLC now owns 5,318 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 5,068 shares during the period. Titan Capital Management LLC CA bought a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $35,000. Finally, Smart Portfolios LLC increased its position in shares of JPMorgan Chase & Co. by 29.6% during the fourth quarter. Smart Portfolios LLC now owns 499 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 114 shares during the period. 71.89% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on JPM shares. Royal Bank of Canada restated a “buy” rating and set a $120.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 16th. Buckingham Research lowered JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a research note on Monday, September 16th. They noted that the move was a valuation call. ValuEngine raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Deutsche Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Friday, June 28th. Finally, DZ Bank reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $122.37.

In other news, insider Lori A. Beer sold 13,341 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $114.28, for a total transaction of $1,524,609.48. Following the completion of the sale, the insider now owns 10,130 shares in the company, valued at $1,157,656.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mellody L. Hobson bought 18,200 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $109.91 per share, with a total value of $2,000,362.00. Following the transaction, the director now owns 7,804 shares of the company’s stock, valued at $857,737.64. The disclosure for this purchase can be found here. Insiders own 0.76% of the company’s stock.

JPMorgan Chase & Co. stock traded down $1.43 on Thursday, reaching $111.82. The company’s stock had a trading volume of 1,009,668 shares, compared to its average volume of 11,547,815. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $376.31 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.70 and a beta of 1.20. The business’s fifty day moving average price is $112.95 and its 200 day moving average price is $111.02. JPMorgan Chase & Co. has a twelve month low of $91.11 and a twelve month high of $120.40.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.32. The company had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.52 billion. JPMorgan Chase & Co. had a return on equity of 14.40% and a net margin of 24.73%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.29 earnings per share. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 9.88 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.22%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. JPMorgan Chase & Co.’s payout ratio is presently 35.56%.

JPMorgan Chase & Co. Profile

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 deposit and investment products 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, payment processing, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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