IMS Capital Management Makes New $2.81 Million Investment in JPMorgan Chase & Co. $JPM

Key Points

• IMS Capital Management has made a new investment of $2.81 million in JPMorgan Chase & Co., acquiring approximately 9,701 shares.
• JPMorgan Chase & Co. reported a quarterly EPS of $4.96, exceeding analysts’ expectations, although its revenue declined 10.5% year-over-year.
• The company recently increased its quarterly dividend from $1.40 to $1.50, indicating robust financial performance with a current yield of 1.9%.

IMS Capital Management acquired a new position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,701 shares of the financial services provider's stock, valued at approximately $2,812,000. JPMorgan Chase & Co. accounts for 1.3% of IMS Capital Management's holdings, making the stock its 18th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of JPMorgan Chase & Co. by 11.0% in 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 in the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth $81,000. Versant Capital Management Inc increased its holdings in shares of JPMorgan Chase & Co. by 92.5% in the 1st quarter. Versant Capital Management Inc now owns 7,310 shares of the financial services provider's stock worth $1,793,000 after purchasing an additional 3,513 shares in the last quarter. Agate Pass Investment Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 9.2% in the 1st quarter. Agate Pass Investment Management LLC now owns 27,599 shares of the financial services provider's stock worth $6,770,000 after purchasing an additional 2,315 shares in the last quarter. Finally, Sage Capital Advisors llc increased its holdings in shares of JPMorgan Chase & Co. by 4.4% in the 1st quarter. Sage Capital Advisors llc now owns 2,026 shares of the financial services provider's stock worth $497,000 after purchasing an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $316.12 on Friday. The company has a market capitalization of $869.25 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 2.07 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The business's fifty day moving average is $298.96 and its 200 day moving average is $271.68. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $317.81.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.9%. 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. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. HSBC reaffirmed a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, July 7th. Finally, TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Hold" and a consensus price target of $297.17.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on 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 transaction, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Profile

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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