Synovus Financial Corp Has $40.71 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Synovus Financial Corp boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 5.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 389,795 shares of the financial services provider’s stock after purchasing an additional 19,553 shares during the period. Synovus Financial Corp’s holdings in JPMorgan Chase & Co. were worth $40,710,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Strategic Family Wealth Counselors L.L.C. grew its stake in shares of JPMorgan Chase & Co. by 3.3% during the second quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,685 shares of the financial services provider’s stock worth $302,000 after buying an additional 85 shares during the last quarter. Royal Capital Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 0.4% during the second quarter. Royal Capital Wealth Management LLC now owns 19,759 shares of the financial services provider’s stock worth $2,225,000 after buying an additional 87 shares during the last quarter. Altus Wealth Group LLC grew its stake in shares of JPMorgan Chase & Co. by 1.4% during the second quarter. Altus Wealth Group LLC now owns 6,281 shares of the financial services provider’s stock worth $1,028,000 after buying an additional 88 shares during the last quarter. Willner & Heller LLC grew its stake in shares of JPMorgan Chase & Co. by 1.7% during the third quarter. Willner & Heller LLC now owns 5,207 shares of the financial services provider’s stock worth $544,000 after buying an additional 88 shares during the last quarter. Finally, M. Kraus & Co grew its stake in shares of JPMorgan Chase & Co. by 1.2% during the third quarter. M. Kraus & Co now owns 7,526 shares of the financial services provider’s stock worth $786,000 after buying an additional 88 shares during the last quarter. 67.89% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $143.01 on Friday. The firm has a market cap of $419.48 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 2.16 and a beta of 1.13. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.13. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $161.03. The company’s fifty day simple moving average is $134.06 and its 200 day simple moving average is $121.83.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last announced its quarterly earnings data on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.43. JPMorgan Chase & Co. had a net margin of 26.85% and a return on equity of 14.52%. The firm had revenue of $34.55 billion for the quarter, compared to analyst estimates of $34.23 billion. During the same quarter in the prior year, the business earned $3.33 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, analysts expect that JPMorgan Chase & Co. will post 11.69 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, January 6th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, January 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.80%. JPMorgan Chase & Co.’s dividend payout ratio is currently 33.78%.

Analyst Ratings Changes

A number of research firms have weighed in on JPM. Credit Suisse Group set a $150.00 target price on shares of JPMorgan Chase & Co. in a research note on Friday, January 6th. Oppenheimer cut their price target on shares of JPMorgan Chase & Co. from $174.00 to $169.00 and set an “outperform” rating on the stock in a report on Wednesday, December 28th. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $162.00 to $189.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. BMO Capital Markets lifted their price target on shares of JPMorgan Chase & Co. from $149.00 to $158.00 and gave the stock a “market perform” rating in a report on Monday, October 17th. Finally, Royal Bank of Canada set a $130.00 price target on shares of JPMorgan Chase & Co. in a report on Friday. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.17.

Insider Activity

In other news, CEO Mary E. Erdoes sold 33,515 shares of the company’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $115.77, for a total transaction of $3,880,031.55. Following the transaction, the chief executive officer now owns 533,795 shares in the company, valued at $61,797,447.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Mary E. Erdoes sold 33,515 shares of the company’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $115.77, for a total transaction of $3,880,031.55. Following the transaction, the chief executive officer now owns 533,795 shares in the company, valued at $61,797,447.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Peter Scher sold 1,310 shares of the company’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $125.02, for a total transaction of $163,776.20. Following the transaction, the insider now owns 34,973 shares in the company, valued at approximately $4,372,324.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,964 shares of company stock worth $4,936,426. Company insiders own 0.79% of the company’s stock.

About JPMorgan Chase & Co.

(Get Rating)

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.

Read More

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:JPMGet Rating).

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.