JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Synovus Financial Corp

Synovus Financial Corp lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 304,581 shares of the financial services provider’s stock after selling 2,727 shares during the quarter. JPMorgan Chase & Co. accounts for 0.7% of Synovus Financial Corp’s portfolio, making the stock its 23rd largest position. Synovus Financial Corp’s holdings in JPMorgan Chase & Co. were worth $64,225,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Accredited Investors Inc. increased its stake in shares of JPMorgan Chase & Co. by 4.9% in the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after buying an additional 667 shares during the last quarter. Sageworth Trust Co grew its holdings in JPMorgan Chase & Co. by 37.9% during the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after acquiring an additional 786 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 2.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock valued at $24,902,000 after purchasing an additional 2,839 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of JPMorgan Chase & Co. by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after purchasing an additional 95,461 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its stake in JPMorgan Chase & Co. by 2.5% in the third quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock worth $2,353,000 after purchasing an additional 267 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Down 0.8 %

Shares of JPMorgan Chase & Co. stock opened at $241.53 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1-year low of $159.77 and a 1-year high of $254.31. The business’s fifty day moving average price is $233.51 and its two-hundred day moving average price is $216.37. The company has a market capitalization of $679.99 billion, a P/E ratio of 13.44, a PEG ratio of 3.54 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.33 earnings per share. As a group, research analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on JPM shares. Piper Sandler upped their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a research report on Thursday, November 7th. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $234.81.

About JPMorgan Chase & Co.

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.