Cahaba Wealth Management Inc. Sells 241 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Cahaba Wealth Management Inc. lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,629 shares of the financial services provider’s stock after selling 241 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $554,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. RFG Advisory LLC boosted its stake in JPMorgan Chase & Co. by 0.3% during the 1st quarter. RFG Advisory LLC now owns 29,401 shares of the financial services provider’s stock worth $5,889,000 after acquiring an additional 85 shares during the last quarter. First Affirmative Financial Network boosted its position in shares of JPMorgan Chase & Co. by 3.9% during the first quarter. First Affirmative Financial Network now owns 2,694 shares of the financial services provider’s stock worth $540,000 after purchasing an additional 100 shares in the last quarter. Meyer Handelman Co. grew its holdings in shares of JPMorgan Chase & Co. by 8.6% in the 1st quarter. Meyer Handelman Co. now owns 283,626 shares of the financial services provider’s stock valued at $56,810,000 after buying an additional 22,518 shares during the period. Gulf International Bank UK Ltd increased its position in shares of JPMorgan Chase & Co. by 1.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 246,585 shares of the financial services provider’s stock valued at $49,390,000 after buying an additional 4,033 shares in the last quarter. Finally, O Connor Financial Group LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth $209,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on JPM. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. BMO Capital Markets raised their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Daiwa Capital Markets reduced their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Jefferies Financial Group increased their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada boosted 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. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Trading Up 0.4 %

Shares of JPMorgan Chase & Co. stock opened at $225.37 on Monday. The firm has a market capitalization of $647.19 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm’s 50 day moving average is $214.03 and its 200 day moving average is $204.58. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.92.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the prior year, the business earned $4.33 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts forecast that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.22%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.89%.

JPMorgan Chase & Co. Profile

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.