Zurcher Kantonalbank Zurich Cantonalbank Purchases 61,606 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,352,013 shares of the financial services provider’s stock after purchasing an additional 61,606 shares during the period. JPMorgan Chase & Co. comprises about 0.8% of Zurcher Kantonalbank Zurich Cantonalbank’s holdings, making the stock its 15th largest holding. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in JPMorgan Chase & Co. were worth $285,085,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JPM. Dimensional Fund Advisors LP grew its holdings in shares of JPMorgan Chase & Co. by 4.8% during the 2nd 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 purchasing an additional 1,040,594 shares during the last quarter. Fisher Asset Management LLC boosted its position in JPMorgan Chase & Co. by 31.7% during the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after buying an additional 4,043,841 shares during the period. International Assets Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. during the third quarter valued at about $1,888,088,000. Sanders Capital LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.6% in the third quarter. Sanders Capital LLC now owns 8,194,767 shares of the financial services provider’s stock worth $1,727,949,000 after buying an additional 49,695 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of JPMorgan Chase & Co. by 2.2% in the second quarter. Envestnet Asset Management Inc. now owns 7,286,705 shares of the financial services provider’s stock worth $1,473,809,000 after buying an additional 157,577 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JPM has been the topic of several recent research reports. Barclays raised their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Finally, Evercore ISI boosted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $229.31.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $249.98 on Friday. The business has a fifty day simple moving average of $227.21 and a two-hundred day simple moving average of $213.61. The firm has a market capitalization of $703.78 billion, a P/E ratio of 13.91, a P/E/G ratio of 3.63 and a beta of 1.10. 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. has a 12 month low of $154.38 and a 12 month high of $254.31.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $1.25 dividend. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.00%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

JPMorgan Chase & Co. 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.