Magnolia Capital Advisors LLC Trims Position in JPMorgan Chase & Co. $JPM

Magnolia Capital Advisors LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,221 shares of the financial services provider’s stock after selling 584 shares during the quarter. JPMorgan Chase & Co. comprises about 1.3% of Magnolia Capital Advisors LLC’s holdings, making the stock its 19th biggest holding. Magnolia Capital Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $4,993,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Florida Financial Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock valued at $2,416,000 after purchasing an additional 3,792 shares during the last quarter. Mosaic Financial Group LLC increased its position in shares of JPMorgan Chase & Co. by 0.8% during the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after purchasing an additional 78 shares during the last quarter. Morse Asset Management Inc raised its holdings in JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock valued at $630,000 after buying an additional 420 shares during the period. Woodward Diversified Capital LLC lifted its position in JPMorgan Chase & Co. by 3.4% in the first quarter. Woodward Diversified Capital LLC now owns 8,032 shares of the financial services provider’s stock valued at $1,970,000 after buying an additional 263 shares during the last quarter. Finally, Kelman Lazarov Inc. lifted its position in JPMorgan Chase & Co. by 16.9% in the second quarter. Kelman Lazarov Inc. now owns 1,257 shares of the financial services provider’s stock valued at $364,000 after buying an additional 182 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $345.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Wolfe Research lifted their target price on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Deutsche Bank Aktiengesellschaft boosted their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research report on Tuesday, September 30th. KGI Securities raised their price target on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Finally, Loop Capital set a $310.00 price objective on JPMorgan Chase & Co. in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $326.38.

JPMorgan Chase & Co. Trading Down 3.5%

NYSE:JPM opened at $309.28 on Friday. The firm has a market cap of $841.95 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. The stock has a fifty day moving average price of $307.34 and a 200 day moving average price of $288.98. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $322.25. 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. (NYSE:JPM) last issued 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 company had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.JPMorgan Chase & Co.’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.37 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the sale, the insider owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This represents a 10.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Company 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.