JPMorgan Chase & Co. $JPM Stock Holdings Reduced by Interchange Capital Partners LLC

Key Points

• Interchange Capital Partners LLC reduced its holdings in JPMorgan Chase & Co. by 48.6% during the second quarter, now owning 7,166 shares valued at approximately $2,077,000.
• JPMorgan reported an EPS of $5.07 for the last quarter, exceeding estimates and showing an 8.8% year-over-year revenue growth.
• The company recently increased its quarterly dividend from $1.40 to $1.50 per share, representing a yield of 2.0% and a payout ratio of 29.72%.

Interchange Capital Partners LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 48.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,166 shares of the financial services provider's stock after selling 6,783 shares during the period. JPMorgan Chase & Co. comprises approximately 2.1% of Interchange Capital Partners LLC's portfolio, making the stock its 9th biggest holding. Interchange Capital Partners LLC's holdings in JPMorgan Chase & Co. were worth $2,077,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC raised its holdings in JPMorgan Chase & Co. by 609,867.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock valued at $21,133,630,000 after acquiring an additional 72,885,260 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after purchasing an additional 454,226 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in JPMorgan Chase & Co. by 2.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after buying an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of JPMorgan Chase & Co. by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock valued at $4,523,588,000 after purchasing an additional 890,553 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter worth about $3,972,807,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 1.9%

Shares of NYSE JPM opened at $300.27 on Friday. The company has a 50-day moving average of $303.43 and a 200 day moving average of $281.56. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market cap of $825.66 billion, a PE ratio of 14.87, a P/E/G ratio of 1.81 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.83 by $0.24. The firm had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $4.37 EPS. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed 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. This represents a $6.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is 29.72%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. This trade 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 at this link. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a "hold" rating in a research report on Tuesday, September 30th. Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. Daiwa Capital Markets boosted their price target on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 8th. The Goldman Sachs Group restated a "buy" rating and issued a $366.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Finally, Wolfe Research upped their price target on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an "outperform" rating in a report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $322.27.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.