Stonebridge Capital Management Inc. Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Stonebridge Capital Management Inc. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 21.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 30,071 shares of the financial services provider’s stock after selling 8,250 shares during the quarter. JPMorgan Chase & Co. makes up 1.3% of Stonebridge Capital Management Inc.’s portfolio, making the stock its 23rd largest position. Stonebridge Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $3,362,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Welch & Forbes LLC boosted its holdings in shares of JPMorgan Chase & Co. by 2.6% during the 2nd quarter. Welch & Forbes LLC now owns 640,620 shares of the financial services provider’s stock valued at $71,621,000 after purchasing an additional 16,421 shares during the last quarter. 6 Meridian boosted its holdings in shares of JPMorgan Chase & Co. by 0.3% during the 2nd quarter. 6 Meridian now owns 75,969 shares of the financial services provider’s stock valued at $8,493,000 after purchasing an additional 233 shares during the last quarter. Altman Advisors Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 1.0% during the 2nd quarter. Altman Advisors Inc. now owns 26,485 shares of the financial services provider’s stock valued at $2,961,000 after purchasing an additional 254 shares during the last quarter. Country Club Trust Company n.a. boosted its holdings in shares of JPMorgan Chase & Co. by 3.0% during the 2nd quarter. Country Club Trust Company n.a. now owns 24,919 shares of the financial services provider’s stock valued at $2,786,000 after purchasing an additional 721 shares during the last quarter. Finally, Clark Capital Management Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 36.4% during the 2nd quarter. Clark Capital Management Group Inc. now owns 619,047 shares of the financial services provider’s stock valued at $69,210,000 after purchasing an additional 165,141 shares during the last quarter. Institutional investors and hedge funds own 71.57% of the company’s stock.

Shares of NYSE:JPM traded down $0.01 during trading on Friday, reaching $112.93. The company’s stock had a trading volume of 11,024,017 shares, compared to its average volume of 10,896,389. The company has a quick ratio of 1.00, a current ratio of 0.97 and a debt-to-equity ratio of 1.22. JPMorgan Chase & Co. has a 12 month low of $91.11 and a 12 month high of $119.24. The company’s 50 day moving average price is $112.95. The stock has a market cap of $366.37 billion, a PE ratio of 12.55, a PEG ratio of 1.63 and a beta of 1.16.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $2.82 EPS for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.32. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.41%. The firm had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.52 billion. During the same quarter last year, the firm earned $2.29 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities analysts predict that JPMorgan Chase & Co. will post 9.92 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 5th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Wednesday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 35.56%.

Several research analysts have commented on the stock. Credit Suisse Group increased their price objective on shares of JPMorgan Chase & Co. from $128.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, April 15th. BMO Capital Markets increased their price objective on shares of JPMorgan Chase & Co. from $116.00 to $118.00 and gave the company a “market perform” rating in a report on Monday, April 15th. Zacks Investment Research downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Deutsche Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Friday, June 28th. Finally, Morgan Stanley increased their price objective on shares of JPMorgan Chase & Co. from $124.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $122.94.

In other JPMorgan Chase & Co. news, insider Lori A. Beer sold 13,341 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $114.28, for a total value of $1,524,609.48. Following the completion of the sale, the insider now owns 10,130 shares of the company’s stock, valued at $1,157,656.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter Scher sold 10,816 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $115.00, for a total transaction of $1,243,840.00. The disclosure for this sale can be found here. 0.76% of the stock is owned by company insiders.

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.

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

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