Mengis Capital Management Inc. Sells 366 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Mengis Capital Management Inc. trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the third quarter, Holdings Channel.com reports. The fund owned 57,354 shares of the financial services provider’s stock after selling 366 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.4% of Mengis Capital Management Inc.’s portfolio, making the stock its 7th largest position. Mengis Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $12,094,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in JPM. Catalyst Capital Advisors LLC bought a new position in JPMorgan Chase & Co. during the third quarter worth about $27,000. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at $32,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth $34,000. West Financial Advisors LLC acquired a new position in JPMorgan Chase & Co. during the third quarter worth $37,000. Finally, New England Capital Financial Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 38.5% during the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 50 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 1.4 %

Shares of NYSE JPM opened at $245.31 on Monday. JPMorgan Chase & Co. has a 1 year low of $150.09 and a 1 year high of $248.00. The firm’s 50-day moving average is $219.50 and its 200-day moving average is $210.17. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $690.63 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 3.56 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period last year, the firm earned $4.33 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $1.25 per share. The ex-dividend date was 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 dividend yield of 2.04%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on JPM shares. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday. Daiwa Capital Markets dropped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Royal Bank of Canada raised their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average price target of $227.13.

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.