Wesbanco Bank Inc. Decreases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Wesbanco Bank Inc. trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.9% during the third quarter, Holdings Channel reports. The institutional investor owned 309,420 shares of the financial services provider’s stock after selling 9,279 shares during the quarter. JPMorgan Chase & Co. makes up about 2.2% of Wesbanco Bank Inc.’s investment portfolio, making the stock its 6th biggest holding. Wesbanco Bank Inc.’s holdings in JPMorgan Chase & Co. were worth $65,244,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Cooper Financial Group boosted its position in JPMorgan Chase & Co. by 12.8% in the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after buying an additional 984 shares during the last quarter. Spartan Planning & Wealth Management lifted its stake in shares of JPMorgan Chase & Co. by 257.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 2,722 shares during the period. jvl associates llc lifted its stake in shares of JPMorgan Chase & Co. by 59.8% in the 1st quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 715 shares during the period. Rowlandmiller & PARTNERS.ADV lifted its stake in shares of JPMorgan Chase & Co. by 1.3% in the 1st quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock valued at $5,201,000 after purchasing an additional 330 shares during the period. Finally, Aspiriant LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.1% in the 1st quarter. Aspiriant LLC now owns 29,728 shares of the financial services provider’s stock valued at $5,955,000 after purchasing an additional 320 shares during the period. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $221.48 on Tuesday. The stock has a market capitalization of $636.02 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 3.28 and a beta of 1.11. The business has a 50-day moving average of $212.32 and a 200-day moving average of $203.88. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48.

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. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter last year, the company posted $4.33 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.26%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JPM. Royal Bank of Canada increased their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday. Jefferies Financial Group increased their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. BMO Capital Markets raised their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Evercore ISI raised their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $217.94.

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.