Hodges Capital Management Inc. Has $9.65 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Hodges Capital Management Inc. lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,758 shares of the financial services provider’s stock after buying an additional 903 shares during the quarter. Hodges Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $9,649,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Accredited Investors Inc. grew its position in shares of JPMorgan Chase & Co. by 4.9% during the 2nd 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 period. Sunburst Financial Group LLC grew its holdings in JPMorgan Chase & Co. by 5.0% during the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock valued at $1,143,000 after purchasing an additional 268 shares during the period. Sageworth Trust Co increased its stake in JPMorgan Chase & Co. by 37.9% in the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after purchasing an additional 786 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 2.5% in the third quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock worth $24,902,000 after purchasing an additional 2,839 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted 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 in the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $247.36 on Friday. The firm has a market capitalization of $696.40 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 3.53 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. The firm’s fifty day moving average price is $230.68 and its two-hundred day moving average price is $215.26. JPMorgan Chase & Co. has a 1 year low of $156.15 and a 1 year high of $254.31.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a $1.25 dividend. 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 2.02%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on JPM. Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company increased their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Royal Bank of Canada lifted their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Daiwa Capital Markets lowered their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. currently 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.