Keystone Wealth Services LLC Boosts Position in JPMorgan Chase & Co. $JPM

Key Points

• Keystone Wealth Services LLC increased its stake in JPMorgan Chase & Co. by 19.3% during the second quarter, acquiring an additional 1,463 shares and now holding a total of 9,029 shares valued at $2,618,000.
• JPMorgan Chase recently announced a quarterly dividend increase from $1.40 to $1.50 per share, representing a 1.9% yield, with the new dividend set to be paid on October 31st.
• JPMorgan Chase's earnings per share exceeded expectations at $4.96 for the last quarter, despite a 10.5% decline in revenue year-over-year, totaling $44.91 billion.

Keystone Wealth Services LLC grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 19.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,029 shares of the financial services provider's stock after buying an additional 1,463 shares during the quarter. Keystone Wealth Services LLC's holdings in JPMorgan Chase & Co. were worth $2,618,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of JPM. Florida Financial Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after purchasing an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $471,000. Crown Wealth Group LLC grew its stake in JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after purchasing an additional 222 shares in the last quarter. Mosaic Financial Group LLC grew its stake in JPMorgan Chase & Co. by 0.8% in the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock worth $2,280,000 after purchasing an additional 78 shares in the last quarter. Finally, Morse Asset Management Inc grew its stake in JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after purchasing an additional 420 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. 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 note on Wednesday, July 16th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Finally, Bank of America increased their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $292.78.

JPMorgan Chase & Co. Stock Performance

Shares of JPM traded up $1.02 during trading hours on Friday, hitting $314.25. The stock had a trading volume of 23,513,937 shares, compared to its average volume of 7,166,939. 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 firm has a 50-day moving average price of $296.43 and a 200 day moving average price of $269.27. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $315.80. The firm has a market capitalization of $864.11 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 2.09 and a beta of 1.13.

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

JPMorgan Chase & Co. Increases Dividend

The business 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 is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. 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 transaction 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. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.