Oakworth Capital Inc. Has $41.87 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Oakworth Capital Inc. lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,553 shares of the financial services provider’s stock after selling 6,623 shares during the period. JPMorgan Chase & Co. makes up about 2.9% of Oakworth Capital Inc.’s investment portfolio, making the stock its 9th largest holding. Oakworth Capital Inc.’s holdings in JPMorgan Chase & Co. were worth $41,867,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Retirement Group LLC boosted its stake in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares during the last quarter. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $32,000. Richardson Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $34,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $34,000. Finally, Davidson Capital Management Inc. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $37,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $223.42 on Thursday. The company has a market capitalization of $641.59 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The business’s fifty day moving average is $214.96 and its 200 day moving average is $205.09. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.92.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $4.33 earnings per share. Sell-side analysts predict that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Jefferies Financial Group increased their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Piper Sandler increased their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Daiwa Capital Markets dropped their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Barclays raised their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Oppenheimer dropped their price target on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $217.94.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.