Texas Capital Bank Wealth Management Services Inc Grows Position in JPMorgan Chase & Co. (NYSE:JPM)

Texas Capital Bank Wealth Management Services Inc increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 6.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 52,029 shares of the financial services provider’s stock after buying an additional 3,208 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.1% of Texas Capital Bank Wealth Management Services Inc’s portfolio, making the stock its 17th biggest position. Texas Capital Bank Wealth Management Services Inc’s holdings in JPMorgan Chase & Co. were worth $10,971,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of JPM. Dimensional Fund Advisors LP increased its position in JPMorgan Chase & Co. by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after acquiring an additional 1,040,594 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of JPMorgan Chase & Co. by 31.7% in the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after purchasing an additional 4,043,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in JPMorgan Chase & Co. by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock worth $3,180,806,000 after buying an additional 302,592 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $1,888,088,000. Finally, Sanders Capital LLC grew its holdings in JPMorgan Chase & Co. by 0.6% during the 3rd quarter. Sanders Capital LLC now owns 8,194,767 shares of the financial services provider’s stock valued at $1,727,949,000 after buying an additional 49,695 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.9 %

Shares of JPM stock opened at $245.52 on Friday. The stock’s fifty day moving average price is $229.94 and its 200 day moving average price is $214.79. JPMorgan Chase & Co. has a 1-year low of $156.00 and a 1-year high of $254.31. The company has a market cap of $691.22 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 3.55 and a beta of 1.11. 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. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.33 earnings per share. On average, research analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.04%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on JPM. Evercore ISI lifted their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Citigroup increased their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $234.81.

JPMorgan Chase & Co. Company Profile

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.