SouthState Corp Sells 81 Shares of JPMorgan Chase & Co. (NYSE:JPM)

SouthState Corp cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.1% in the third quarter, Holdings Channel reports. The firm owned 152,473 shares of the financial services provider’s stock after selling 81 shares during the period. JPMorgan Chase & Co. comprises 2.2% of SouthState Corp’s holdings, making the stock its 6th largest position. SouthState Corp’s holdings in JPMorgan Chase & Co. were worth $32,150,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. FWG Holdings LLC raised its stake in JPMorgan Chase & Co. by 0.9% in the 3rd quarter. FWG Holdings LLC now owns 11,255 shares of the financial services provider’s stock worth $2,538,000 after acquiring an additional 105 shares during the last quarter. Princeton Capital Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.9% in the third quarter. Princeton Capital Management LLC now owns 10,710 shares of the financial services provider’s stock valued at $2,258,000 after purchasing an additional 94 shares during the period. Equita Financial Network Inc. purchased a new position in shares of JPMorgan Chase & Co. in the third quarter worth about $226,000. Fifth Third Wealth Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 20.5% in the third quarter. Fifth Third Wealth Advisors LLC now owns 90,288 shares of the financial services provider’s stock worth $19,038,000 after purchasing an additional 15,334 shares during the last quarter. Finally, Wrapmanager Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 5.1% during the third quarter. Wrapmanager Inc. now owns 20,698 shares of the financial services provider’s stock worth $4,364,000 after purchasing an additional 1,010 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $248.55 on Friday. 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 firm has a fifty day moving average of $223.14 and a 200 day moving average of $211.90. The firm has a market cap of $699.75 billion, a PE ratio of 13.83, a PEG ratio of 3.55 and a beta of 1.10. JPMorgan Chase & Co. has a one year low of $152.71 and a one year 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 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. 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 previous year, the company earned $4.33 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, research analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.01%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Wall Street Analyst Weigh In

JPM has been the topic of several research reports. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note 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 company from $220.00 to $224.00 in a research report on Monday, September 30th. 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. Finally, Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and an average target price of $229.31.

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.