Bridge Creek Capital Management LLC Trims Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Bridge Creek Capital Management LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,257 shares of the financial services provider’s stock after selling 1,752 shares during the period. JPMorgan Chase & Co. comprises about 3.3% of Bridge Creek Capital Management LLC’s holdings, making the stock its 3rd largest holding. Bridge Creek Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $10,849,000 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 the company. Mizuho Securities Co. Ltd. purchased a new stake in JPMorgan Chase & Co. in the third quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $27,000. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $32,000. West Financial Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at $37,000. Finally, New England Capital Financial Advisors LLC raised its position in JPMorgan Chase & Co. by 38.5% in the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 50 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $244.25 on Tuesday. JPMorgan Chase & Co. has a fifty-two week low of $164.30 and a fifty-two week high of $254.31. The stock’s 50 day simple moving average is $242.08 and its two-hundred day simple moving average is $223.20. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap 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 released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.33 earnings per share. As a group, analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

Wall Street Analysts Forecast Growth

JPM has been the subject of several analyst reports. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a report on Friday, January 3rd. Piper Sandler lifted 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. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Finally, Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $245.83.

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.