West Coast Financial LLC Decreases Position in JPMorgan Chase & Co. (NYSE:JPM)

West Coast Financial LLC cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 31.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,319 shares of the financial services provider’s stock after selling 1,050 shares during the period. West Coast Financial LLC’s holdings in JPMorgan Chase & Co. were worth $261,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of JPM. Norges Bank purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth about $4,092,843,000. Vanguard Group Inc. raised its holdings in JPMorgan Chase & Co. by 2.6% in the first quarter. Vanguard Group Inc. now owns 266,854,574 shares of the financial services provider’s stock worth $36,377,615,000 after buying an additional 6,792,220 shares during the last quarter. GQG Partners LLC raised its holdings in JPMorgan Chase & Co. by 403.3% in the fourth quarter. GQG Partners LLC now owns 5,095,612 shares of the financial services provider’s stock worth $806,728,000 after buying an additional 4,083,231 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in JPMorgan Chase & Co. by 7,427.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,664,092 shares of the financial services provider’s stock worth $363,169,000 after buying an additional 2,628,701 shares during the last quarter. Finally, State Street Corp raised its holdings in JPMorgan Chase & Co. by 1.6% in the fourth quarter. State Street Corp now owns 141,720,090 shares of the financial services provider’s stock worth $22,441,376,000 after buying an additional 2,277,065 shares during the last quarter. 68.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the subject of several research reports. Royal Bank of Canada set a $130.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 6th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $148.00 price objective (up from $142.00) on shares of JPMorgan Chase & Co. in a report on Tuesday, May 24th. Barclays set a $200.00 price objective on shares of JPMorgan Chase & Co. in a report on Monday, July 18th. Societe Generale raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $150.00 in a report on Tuesday, May 24th. Finally, Wells Fargo & Company decreased their price objective on shares of JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating for the company in a report on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $145.95.

JPMorgan Chase & Co. Stock Performance

JPM opened at $117.08 on Monday. The firm has a market cap of $343.35 billion, a P/E ratio of 9.40, a PEG ratio of 2.07 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $106.06 and a 1-year high of $172.96. The company has a 50 day simple moving average of $115.85 and a two-hundred day simple moving average of $122.63. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.83 and a quick ratio of 0.83.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its quarterly earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.76. The business had revenue of $30.72 billion during the quarter, compared to analyst estimates of $31.82 billion. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $3.78 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 11.32 earnings per share for the current fiscal year.

About JPMorgan Chase & Co.

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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 s deposit, investment and lending products, payments, 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, auto loan, and leasing services.

Further Reading

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

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