JPMorgan Chase & Co. $JPM Stock Holdings Boosted by Cardinal Capital Management

Key Points

• Cardinal Capital Management increased its stake in JPMorgan Chase & Co. by 7.9% in Q2, bringing its total holdings to 59,809 shares, valued at approximately $17.3 million.
• JPMorgan reported Q2 earnings of $4.96 per share, surpassing expectations and generating a revenue of $44.91 billion, although this reflected a 10.5% decrease year-over-year.
• The firm announced a quarterly dividend increase to $1.50 per share, up from $1.40, with a yield of 1.9% and a payout ratio of 28.73%.

Cardinal Capital Management grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,809 shares of the financial services provider's stock after purchasing an additional 4,403 shares during the period. JPMorgan Chase & Co. comprises about 2.5% of Cardinal Capital Management's portfolio, making the stock its 6th largest position. Cardinal Capital Management's holdings in JPMorgan Chase & Co. were worth $17,339,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in JPM. LCM Capital Management Inc boosted its stake in JPMorgan Chase & Co. by 0.9% in the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider's stock valued at $1,115,000 after acquiring an additional 36 shares during the last quarter. Lakeshore Financial Planning Inc. increased its stake in shares of JPMorgan Chase & Co. by 0.4% during the 2nd quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider's stock worth $2,441,000 after purchasing an additional 37 shares during the last quarter. First Command Advisory Services Inc. raised its holdings in shares of JPMorgan Chase & Co. by 0.4% in the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock worth $2,283,000 after purchasing an additional 40 shares during the period. Black Swift Group LLC lifted its stake in JPMorgan Chase & Co. by 0.7% in the first quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock valued at $1,413,000 after purchasing an additional 40 shares during the last quarter. Finally, Beacon Bridge Wealth Partners LLC lifted its stake in JPMorgan Chase & Co. by 1.8% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock valued at $547,000 after purchasing an additional 40 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on JPM. Morgan Stanley upped their price target on 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. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Evercore ISI set a $298.00 price target on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, July 7th. Finally, 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. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $297.17.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $313.48 on Friday. The firm has a market capitalization of $862.00 billion, a P/E ratio of 16.08, a P/E/G ratio of 2.06 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. The stock's 50-day simple moving average is $298.46 and its two-hundred day simple moving average is $271.08. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $316.58.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its 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 analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $6.12 earnings per share. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company 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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