Galvin Gaustad & Stein LLC Sells 12,288 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Galvin Gaustad & Stein LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 137,291 shares of the financial services provider's stock after selling 12,288 shares during the quarter. JPMorgan Chase & Co. makes up 2.6% of Galvin Gaustad & Stein LLC's investment portfolio, making the stock its 7th largest position. Galvin Gaustad & Stein LLC's holdings in JPMorgan Chase & Co. were worth $28,949,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of JPM. Catalyst Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $27,000. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $32,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the second quarter worth approximately $34,000. West Financial Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at $37,000. Finally, New England Capital Financial Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 38.5% in the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 1.1 %

JPM traded up $2.58 on Wednesday, reaching $242.14. The company's stock had a trading volume of 5,763,831 shares, compared to its average volume of 9,069,446. JPMorgan Chase & Co. has a 1 year low of $146.52 and a 1 year high of $248.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $681.71 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10. The business's 50 day moving average is $217.92 and its 200 day moving average is $209.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts' consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $4.33 earnings per share. As a group, research 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. Shareholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.06%. 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 dividend payout ratio is 27.82%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on JPM shares. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Thursday, November 7th. Daiwa Capital Markets cut their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an "overweight" rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada boosted their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Oppenheimer lifted their price target on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $224.31.

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.