First City Capital Management Inc. Sells 206 Shares of JPMorgan Chase & Co. (NYSE:JPM)

First City Capital Management Inc. cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,356 shares of the financial services provider’s stock after selling 206 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.1% of First City Capital Management Inc.’s portfolio, making the stock its 13th largest holding. First City Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $3,921,000 at the end of the most recent reporting period.

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

JPMorgan Chase & Co. Stock Up 0.8 %

Shares of NYSE:JPM traded up $1.90 during mid-day trading on Friday, hitting $241.90. 4,459,944 shares of the company traded hands, compared to its average volume of 6,779,617. The stock has a 50-day moving average price of $239.32 and a two-hundred day moving average price of $220.65. JPMorgan Chase & Co. has a 12-month low of $164.30 and a 12-month high of $254.31. The stock has a market cap of $681.03 billion, a P/E ratio of 13.46, a P/E/G ratio of 3.54 and a beta of 1.11. 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) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the prior year, the business posted $4.33 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.07%. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JPM. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research report on Friday. Royal Bank of Canada upped their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 3rd. Finally, Barclays raised their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $236.82.

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.