Northwest Bancshares Inc. Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Northwest Bancshares Inc. lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 14.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 35,877 shares of the financial services provider’s stock after selling 6,110 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.3% of Northwest Bancshares Inc.’s investment portfolio, making the stock its 12th biggest holding. Northwest Bancshares Inc.’s holdings in JPMorgan Chase & Co. were worth $7,565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Mizuho Securities Co. Ltd. purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $25,000. Catalyst Capital Advisors LLC bought a new position in JPMorgan Chase & Co. during the 3rd quarter valued at approximately $27,000. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter valued at approximately $32,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter valued at approximately $34,000. Finally, West Financial Advisors LLC bought a new position in JPMorgan Chase & Co. during the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on JPM shares. Evercore ISI raised their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Daiwa Capital Markets reduced their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Citigroup raised their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Barclays raised their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $229.31.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $248.55 on Friday. The company has a market capitalization of $699.75 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 3.55 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The business’s fifty day moving average is $223.14 and its 200 day moving average is $211.90. JPMorgan Chase & Co. has a fifty-two week low of $152.71 and a fifty-two week high of $249.15.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.33 earnings per share. Sell-side analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.01%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

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.