Eastern Bank Reduces Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Eastern Bank reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 454,745 shares of the financial services provider’s stock after selling 1,019 shares during the quarter. JPMorgan Chase & Co. accounts for 2.0% of Eastern Bank’s holdings, making the stock its 10th biggest position. Eastern Bank’s holdings in JPMorgan Chase & Co. were worth $109,007,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in JPM. International Assets Investment Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the third quarter worth approximately $1,888,088,000. Fisher Asset Management LLC increased 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 acquiring an additional 4,043,841 shares in the last quarter. Wulff Hansen & CO. increased its position in shares of JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after acquiring an additional 2,787,510 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of JPMorgan Chase & Co. by 137.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock worth $922,760,000 after acquiring an additional 2,535,590 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of JPMorgan Chase & Co. by 93.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock worth $567,669,000 after acquiring an additional 1,301,764 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial initiated coverage on shares of JPMorgan Chase & Co. in a research report on Tuesday, January 7th. They issued a “hold” rating and a $260.00 target price on the stock. Royal Bank of Canada boosted their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Bank of America boosted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a research report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average price target of $245.83.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $244.25 on Tuesday. The firm has a fifty day simple moving average of $242.08 and a 200-day simple moving average of $223.20. 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 1-year low of $164.30 and a 1-year high of $254.31. The stock has a market capitalization of $687.65 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 3.54 and a beta of 1.11.

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

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

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.