First Citizens Bank & Trust Co. Sells 5,300 Shares of JPMorgan Chase & Co. (NYSE:JPM)

First Citizens Bank & Trust Co. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 162,013 shares of the financial services provider’s stock after selling 5,300 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.5% of First Citizens Bank & Trust Co.’s investment portfolio, making the stock its 20th biggest holding. First Citizens Bank & Trust Co.’s holdings in JPMorgan Chase & Co. were worth $34,162,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. RFG Advisory LLC lifted its position in shares of JPMorgan Chase & Co. by 0.3% in the first quarter. RFG Advisory LLC now owns 29,401 shares of the financial services provider’s stock worth $5,889,000 after purchasing an additional 85 shares in the last quarter. First Affirmative Financial Network lifted its position in shares of JPMorgan Chase & Co. by 3.9% in 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. lifted its position in shares of JPMorgan Chase & Co. by 8.6% in the first quarter. Meyer Handelman Co. now owns 283,626 shares of the financial services provider’s stock worth $56,810,000 after purchasing an additional 22,518 shares in the last quarter. Gulf International Bank UK Ltd increased its holdings in JPMorgan Chase & Co. by 1.7% during the first quarter. Gulf International Bank UK Ltd now owns 246,585 shares of the financial services provider’s stock worth $49,390,000 after buying an additional 4,033 shares during the last quarter. Finally, O Connor Financial Group LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth $209,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.4 %

Shares of JPMorgan Chase & Co. stock opened at $225.37 on Monday. The firm has a 50-day moving average of $214.03 and a 200-day moving average of $204.58. The stock has a market cap of $647.19 billion, a PE ratio of 12.57, a PEG ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.92. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share 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 business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the prior year, the business posted $4.33 earnings per share. JPMorgan Chase & Co.’s revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.22%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on JPM. Oppenheimer lowered their target price on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $220.00 to $224.00 in a report on Monday, September 30th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Finally, Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $217.94.

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.