McNamara Financial Services Inc. Makes New $471,000 Investment in JPMorgan Chase & Co. (NYSE:JPM)

McNamara Financial Services Inc. acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the third quarter, HoldingsChannel.com reports. The firm acquired 2,232 shares of the financial services provider’s stock, valued at approximately $471,000.

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

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $222.29 on Friday. The stock has a market capitalization of $632.45 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s 50 day moving average price is $211.79 and its two-hundred day moving average price is $203.70.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the prior year, the firm earned $4.33 EPS. The business’s revenue was up 6.5% on a year-over-year basis. On average, equities analysts predict that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a $1.25 dividend. The ex-dividend date is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.25%. JPMorgan Chase & Co.’s dividend payout ratio is 27.89%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on JPM shares. Daiwa Capital Markets lowered their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday. Evercore ISI increased their price target on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Finally, Barclays upped their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.47.

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.