CIBC Asset Management Inc Boosts Stake in JPMorgan Chase & Co. (NYSE:JPM)

CIBC Asset Management Inc boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 498,375 shares of the financial services provider's stock after buying an additional 29,470 shares during the period. CIBC Asset Management Inc's holdings in JPMorgan Chase & Co. were worth $105,012,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Mizuho Securities Co. Ltd. purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $27,000. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $32,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at $34,000. Finally, West Financial Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Evercore ISI boosted their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $200.00 target price for the company. in a report on Thursday, November 7th. Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Hold" and a consensus target price of $229.31.

JPMorgan Chase & Co. Trading Down 1.3 %

NYSE JPM traded down $3.11 during trading hours on Wednesday, hitting $239.98. 2,682,505 shares of the company's stock were exchanged, compared to its average volume of 9,072,024. The firm has a market cap of $675.63 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 3.56 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $152.57 and a 1-year high of $248.00. The stock has a 50-day simple moving average of $220.81 and a 200 day simple moving average of $210.92. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the company posted $4.33 earnings per share. The business's revenue was up 6.5% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.08%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.'s payout ratio is presently 27.82%.

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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.