Gimbal Financial Acquires 52 Shares of JPMorgan Chase & Co. $JPM

Gimbal Financial increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,285 shares of the financial services provider’s stock after acquiring an additional 52 shares during the quarter. JPMorgan Chase & Co. comprises about 0.4% of Gimbal Financial’s investment portfolio, making the stock its 20th biggest holding. Gimbal Financial’s holdings in JPMorgan Chase & Co. were worth $662,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Harbor Asset Planning Inc. bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth about $26,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth about $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth about $30,000. Ryan Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc increased its stake in JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 106 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

JPM opened at $311.47 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market cap of $856.48 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.84 and a beta of 1.13. The company’s 50 day moving average is $304.92 and its 200 day moving average is $284.12. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The company had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $4.37 earnings per share. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were issued a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Loop Capital set a $310.00 price objective on shares of JPMorgan Chase & Co. in a research note on Thursday, October 23rd. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, October 21st. Finally, Morgan Stanley raised their price objective on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $322.27.

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.