Eastern Bank Boosts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Eastern Bank raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,792 shares of the financial services provider’s stock after buying an additional 6,221 shares during the period. JPMorgan Chase & Co. accounts for approximately 2.4% of Eastern Bank’s portfolio, making the stock its 5th biggest holding. Eastern Bank’s holdings in JPMorgan Chase & Co. were worth $38,225,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Wharton Business Group LLC increased its stake in shares of JPMorgan Chase & Co. by 0.3% in the second quarter. Wharton Business Group LLC now owns 86,951 shares of the financial services provider’s stock worth $9,721,000 after purchasing an additional 235 shares during the period. New England Investment & Retirement Group Inc. increased its stake in JPMorgan Chase & Co. by 27.2% during the second quarter. New England Investment & Retirement Group Inc. now owns 6,695 shares of the financial services provider’s stock valued at $748,000 after acquiring an additional 1,433 shares during the period. Carillon Tower Advisers Inc. increased its stake in JPMorgan Chase & Co. by 4.7% during the second quarter. Carillon Tower Advisers Inc. now owns 300,522 shares of the financial services provider’s stock valued at $33,598,000 after acquiring an additional 13,477 shares during the period. BTR Capital Management Inc. increased its stake in JPMorgan Chase & Co. by 0.7% during the second quarter. BTR Capital Management Inc. now owns 164,688 shares of the financial services provider’s stock valued at $18,412,000 after acquiring an additional 1,223 shares during the period. Finally, Annex Advisory Services LLC increased its stake in JPMorgan Chase & Co. by 21.5% during the second quarter. Annex Advisory Services LLC now owns 27,273 shares of the financial services provider’s stock valued at $3,050,000 after acquiring an additional 4,834 shares during the period. Institutional investors own 71.90% of the company’s stock.

JPM has been the topic of several research reports. Credit Suisse Group set a $135.00 price target on JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Friday, October 11th. Buckingham Research lowered JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a research note on Monday, September 16th. They noted that the move was a valuation call. Goldman Sachs Group restated a “neutral” rating and set a $117.00 price target on shares of JPMorgan Chase & Co. in a research note on Monday, July 22nd. Societe Generale lowered JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Finally, Robert W. Baird boosted their price target on JPMorgan Chase & Co. from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $123.02.

NYSE JPM opened at $130.38 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.97 and a debt-to-equity ratio of 1.26. The stock’s 50 day moving average is $120.77 and its two-hundred day moving average is $114.02. The company has a market capitalization of $404.92 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.81 and a beta of 1.21. JPMorgan Chase & Co. has a 1-year low of $91.11 and a 1-year high of $131.29.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.23. The company had revenue of $29.34 billion for the quarter, compared to the consensus estimate of $28.36 billion. JPMorgan Chase & Co. had a return on equity of 14.63% and a net margin of 24.70%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.34 earnings per share. On average, analysts predict that JPMorgan Chase & Co. will post 10.17 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.76%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, October 3rd. JPMorgan Chase & Co.’s payout ratio is presently 40.00%.

In other news, CEO Gordon Smith sold 83,289 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $119.98, for a total value of $9,993,014.22. Following the transaction, the chief executive officer now directly owns 393,197 shares of the company’s stock, valued at approximately $47,175,776.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicole Giles sold 863 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $126.73, for a total value of $109,367.99. Following the completion of the transaction, the insider now directly owns 8,949 shares in the company, valued at $1,134,106.77. The disclosure for this sale can be found here. Insiders have sold 152,944 shares of company stock worth $19,088,970 over the last ninety days. Company insiders own 0.76% of the company’s stock.

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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

Featured Article: What is a stock buyback?

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply