Patten & Patten Inc. TN Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Patten & Patten Inc. TN lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,029 shares of the financial services provider’s stock after selling 2,796 shares during the quarter. JPMorgan Chase & Co. makes up about 1.9% of Patten & Patten Inc. TN’s portfolio, making the stock its 9th biggest position. Patten & Patten Inc. TN’s holdings in JPMorgan Chase & Co. were worth $28,472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Accredited Investors Inc. grew its stake in JPMorgan Chase & Co. by 4.9% in the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after purchasing an additional 667 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in JPMorgan Chase & Co. by 1.4% during the first quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider’s stock worth $17,439,000 after buying an additional 1,173 shares during the period. Sunburst Financial Group LLC lifted its holdings in JPMorgan Chase & Co. by 5.0% during the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after buying an additional 268 shares during the period. Sageworth Trust Co lifted its holdings in JPMorgan Chase & Co. by 37.9% during the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after buying an additional 786 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in JPMorgan Chase & Co. by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after buying an additional 95,461 shares during the period. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of analyst reports. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday. Evercore ISI upped their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Daiwa Capital Markets lowered their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Oppenheimer increased their price objective on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus price target of $227.13.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $245.39 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The stock’s fifty day moving average price is $218.84 and its 200 day moving average price is $209.56. JPMorgan Chase & Co. has a 1 year low of $150.09 and a 1 year high of $248.00. The company has a market cap of $690.86 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 3.50 and a beta of 1.10.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

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.