JPMorgan Chase & Co. $JPM Stock Holdings Boosted by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its JPMorgan stake by 2.5% in the third quarter, bringing its holdings to 157,295 shares valued at approximately $52.1 million. Institutional investors and hedge funds collectively own 71.55% of the stock.
• Analysts maintain a “Moderate Buy” consensus on JPMorgan, with an average price target of $362.88; recent targets range from $360 to $395.
• JPMorgan reported $5.75 in quarterly EPS and $50.17 billion in revenue, both below consensus estimates, despite net income rising 6% year over year to $15.3 billion. The bank raised its quarterly dividend to $1.65 per share, equivalent to a 2.0% annual yield.

NorthCrest Asset Manangement LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,295 shares of the financial services provider's stock after purchasing an additional 3,791 shares during the period. JPMorgan Chase & Co. comprises about 1.2% of NorthCrest Asset Manangement LLC's holdings, making the stock its 11th largest holding. NorthCrest Asset Manangement LLC's holdings in JPMorgan Chase & Co. were worth $52,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Woodstock Corp grew its holdings in shares of JPMorgan Chase & Co. by 1.3% during the third quarter. Woodstock Corp now owns 69,766 shares of the financial services provider's stock worth $23,081,000 after purchasing an additional 901 shares during the last quarter. Sacks & Associates LLC acquired a new position in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $455,000. HF Advisory Group LLC raised its holdings in JPMorgan Chase & Co. by 10.2% in the 3rd quarter. HF Advisory Group LLC now owns 19,156 shares of the financial services provider's stock valued at $6,337,000 after buying an additional 1,779 shares during the last quarter. Roan Capital Partners raised its holdings in JPMorgan Chase & Co. by 6.1% in the 3rd quarter. Roan Capital Partners now owns 1,016 shares of the financial services provider's stock valued at $336,000 after buying an additional 58 shares during the last quarter. Finally, Dupree Financial Group LLC boosted its position in JPMorgan Chase & Co. by 831.8% during the 3rd quarter. Dupree Financial Group LLC now owns 23,034 shares of the financial services provider's stock worth $7,620,000 after buying an additional 20,562 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on JPM shares. Jefferies Financial Group reissued a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Friday, September 25th. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Citigroup raised their price target on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. UBS Group cut their price target on shares of JPMorgan Chase & Co. from $400.00 to $395.00 and set a "buy" rating on the stock in a report on Monday, October 5th. Finally, TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, October 8th. They issued a "hold" rating and a $370.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $362.88.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the transaction, the insider directly owned 71,047 shares in the company, valued at approximately $25,066,092.07. This represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.41% of the company's stock.

Key Stories Impacting JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan reported third-quarter net income of $15.3 billion, up 6% from a year earlier, while revenue increased 8% to $50.17 billion. Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management posted respective net-income growth of 13%, 20%, and 11%. JPMorgan Chase Reports Third-Quarter Net Income
• Positive Sentiment: Reuters highlighted stronger investment-banking activity and trading performance as key drivers of the profit increase, supporting the outlook for JPMorgan’s markets and dealmaking businesses. JPMorgan Profit Rises on Investment Banking and Trading Strength
• Positive Sentiment: The bank declared a $1.65-per-share common dividend and repurchased $664 million of stock, providing ongoing shareholder returns.
• Neutral Sentiment: JPMorgan’s results were closely watched as the first major bank earnings release of the season and as an indicator of corporate deal activity, consumer health, credit conditions, and the broader U.S. economy. JPMorgan Earnings Live Coverage
• Negative Sentiment: Adjusted earnings per share of $5.75 missed the roughly $5.93–$5.94 consensus, while revenue of $50.17 billion was below estimates near $51.2 billion. The earnings and revenue misses are the primary reasons the stock moved lower. JPMorgan Earnings Miss Estimates
• Negative Sentiment: Results included a $2.7 billion provision for credit losses and $658 million of net investment-securities losses in the Corporate segment, weighing on profitability and raising investor scrutiny of credit and market risks.

JPMorgan Chase & Co. Trading Up 0.5%

JPM opened at $334.66 on Tuesday. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $366.50. The company has a fifty day moving average of $350.00 and a 200-day moving average of $329.24. The stock has a market cap of $889.59 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.37 and a beta of 1.02. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, October 13th. The financial services provider reported $5.75 EPS for the quarter, missing the consensus estimate of $5.93 by ($0.18). JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business had revenue of $50.17 billion for the quarter, compared to the consensus estimate of $51.23 billion. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 24.16 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be paid a $1.65 dividend. This represents a $6.60 annualized dividend and a yield of 2.0%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, October 6th. JPMorgan Chase & Co.'s payout ratio is presently 28.28%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.

The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across international markets.

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