Evanson Asset Management LLC Has $1.64 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Evanson Asset Management LLC increased its stake in JPMorgan Chase & Co. by 28.6% during the 2nd quarter, with holdings valued at $1.64 million after acquiring additional shares.
• JPMorgan's recent earnings report showed a earnings per share (EPS) of $4.96, exceeding estimates and a revenue of $44.91 billion, despite being down 10.5% year-over-year.
• The company announced a dividend increase to $1.50 per share, set to be paid on October 31st, reflecting a payout ratio of 28.73%.

Evanson Asset Management LLC grew its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 28.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,661 shares of the financial services provider's stock after acquiring an additional 1,259 shares during the period. Evanson Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $1,641,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of JPM. Brighton Jones LLC increased its stake in shares of JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after purchasing an additional 4,841 shares during the last quarter. BTC Capital Management Inc. grew its holdings in JPMorgan Chase & Co. by 1.5% during the first quarter. BTC Capital Management Inc. now owns 74,342 shares of the financial services provider's stock worth $18,237,000 after purchasing an additional 1,068 shares during the period. Lantz Financial LLC increased its position in JPMorgan Chase & Co. by 1.0% during the first quarter. Lantz Financial LLC now owns 6,865 shares of the financial services provider's stock worth $1,684,000 after buying an additional 68 shares during the last quarter. LVM Capital Management Ltd. MI raised its stake in JPMorgan Chase & Co. by 324.0% in the first quarter. LVM Capital Management Ltd. MI now owns 53,353 shares of the financial services provider's stock valued at $13,087,000 after buying an additional 40,769 shares during the period. Finally, Beese Fulmer Investment Management Inc. lifted its position in shares of JPMorgan Chase & Co. by 0.5% in the first quarter. Beese Fulmer Investment Management Inc. now owns 91,404 shares of the financial services provider's stock valued at $22,422,000 after buying an additional 446 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Analysts Set New Price Targets

JPM has been the topic of a number of recent analyst reports. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a report on Friday, June 27th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Morgan Stanley increased their price objective on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Finally, Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of "Hold" and a consensus target price of $297.17.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $316.12 on Friday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $317.81. The company's 50 day moving average price is $298.96 and its two-hundred day moving average price is $271.99. The firm has a market cap of $869.25 billion, a PE ratio of 16.22, a PEG ratio of 2.08 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $6.12 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.47% of the company's stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

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