Mengis Capital Management Inc. Has $16.08 Million Stake in JPMorgan Chase & Co. $JPM

Mengis Capital Management Inc. trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.5% in the second quarter, Holdings Channel reports. The firm owned 55,465 shares of the financial services provider’s stock after selling 826 shares during the quarter. JPMorgan Chase & Co. comprises approximately 3.4% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 3rd biggest position. Mengis Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $16,080,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $30,000. Ryan Investment Management Inc. bought a new position in JPMorgan Chase & Co. in the second quarter valued at approximately $37,000. Christopher J. Hasenberg Inc grew its stake in JPMorgan Chase & Co. by 212.0% in the second 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. Finally, Goodman Advisory Group LLC bought a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $76,000. 71.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on JPM. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 target price for the company. in a research note on Friday, June 27th. Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Friday, June 27th. Morgan Stanley lifted their target price on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Finally, TD Cowen lifted their target price on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Fifteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $322.86.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $297.81 on Monday. The stock has a market cap of $818.91 billion, a P/E ratio of 14.75, a PEG ratio of 1.80 and a beta of 1.13. The stock has a 50 day simple moving average of $302.82 and a 200 day simple moving average of $279.12. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01.

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

JPMorgan Chase & Co. Increases Dividend

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

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.

About JPMorgan Chase & Co.

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.