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

Hodges Capital Management Inc. raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 hedge funds and other institutional investors also recently made changes to their positions in the company. Mizuho Securities Co. Ltd. acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. in the 3rd quarter valued at approximately $27,000. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter worth approximately $32,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $34,000. Finally, West Financial Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $247.36 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The business’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 fifty-two week low of $156.15 and a fifty-two week high of $254.31. The stock has a market capitalization of $696.40 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 3.53 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 the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for 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%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.33 earnings per share. As a group, analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal 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 dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.02%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Analyst Ratings Changes

JPM has been the subject of several recent research reports. Royal Bank of Canada boosted 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, October 14th. Daiwa Capital Markets dropped their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Citigroup upped their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Piper Sandler upped their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.