Violich Capital Management Inc. Sells 1,085 Shares of JPMorgan Chase & Co. $JPM

Violich Capital Management Inc. decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 5.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 19,175 shares of the financial services provider’s stock after selling 1,085 shares during the period. JPMorgan Chase & Co. comprises approximately 0.8% of Violich Capital Management Inc.’s portfolio, making the stock its 28th biggest holding. Violich Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $5,559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Bancorp Inc ME boosted its position in JPMorgan Chase & Co. by 7.9% during the 2nd quarter. First Bancorp Inc ME now owns 5,492 shares of the financial services provider’s stock valued at $1,592,000 after buying an additional 402 shares during the period. Wealthstream Advisors Inc. raised its stake in shares of JPMorgan Chase & Co. by 3.7% during the second quarter. Wealthstream Advisors Inc. now owns 4,425 shares of the financial services provider’s stock valued at $1,283,000 after acquiring an additional 157 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at about $458,104,000. Gladwyn Financial Advisors Inc. bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at about $534,000. Finally, Schubert & Co raised its stake in shares of JPMorgan Chase & Co. by 26.0% during the second quarter. Schubert & Co now owns 1,527 shares of the financial services provider’s stock valued at $443,000 after acquiring an additional 315 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on JPM shares. Bank of America boosted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Citigroup raised their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Finally, Barclays upped their price objective on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $322.27.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.4%

NYSE:JPM opened at $305.29 on Wednesday. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The company’s 50-day simple moving average is $303.98 and its 200 day simple moving average is $282.92. The firm has a market capitalization of $839.48 billion, a P/E ratio of 15.12, a PEG ratio of 1.83 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same period last year, the business earned $4.37 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.