Cardinal Capital Management Inc. Sells 154,556 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Cardinal Capital Management Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 93.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,040 shares of the financial services provider’s stock after selling 154,556 shares during the quarter. Cardinal Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,117,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Retirement Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares during the period. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $32,000. Richardson Capital Management LLC bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $34,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the second quarter valued at about $34,000. Finally, Davidson Capital Management Inc. bought a new stake in JPMorgan Chase & Co. during the first quarter worth about $37,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Citigroup increased their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Finally, Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $213.47.

JPMorgan Chase & Co. Trading Up 4.4 %

NYSE JPM opened at $222.29 on Friday. The stock has a 50-day simple moving average of $211.79 and a 200 day simple moving average of $203.70. The company has a market capitalization of $632.45 billion, a PE ratio of 12.40, a P/E/G ratio of 3.28 and a beta of 1.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48.

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. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.33 EPS. Research analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.25%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

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.