Meridian Financial Partners LLC Reduces Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Meridian Financial Partners LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,881 shares of the financial services provider’s stock after selling 87 shares during the quarter. JPMorgan Chase & Co. comprises 1.1% of Meridian Financial Partners LLC’s holdings, making the stock its 20th largest position. Meridian Financial Partners LLC’s holdings in JPMorgan Chase & Co. were worth $2,084,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in JPM. Retirement Group LLC increased its position in shares of JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares during the period. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at about $32,000. Richardson Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the first quarter valued at about $34,000. Anfield Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM opened at $225.37 on Monday. The firm’s fifty day simple moving average is $214.03 and its two-hundred day simple moving average is $204.58. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.92. The company has a market cap of $647.19 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 3.28 and a beta of 1.11. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same period last year, the company posted $4.33 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities analysts anticipate 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 $1.25 dividend. The ex-dividend date is Friday, October 4th. This is a positive change 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 2.22%. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on JPM shares. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Evercore ISI increased their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $220.00 to $224.00 in a report on Monday, September 30th. Finally, Citigroup raised their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. Company 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.