JPMorgan posts $US9 billion record profit

JP Morgan Chase reveals first-quarter profit jumped to $8.7bn

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kistler Tiffany Companies LLC now owns 16,431 shares of the financial services provider's stock worth $1,757,000 after acquiring an additional 463 shares during the last quarter. That profit exceeds last year's $5.46 billion, or $1.03 per share, in profit.

Shares initially spiked more than 1 percent in premarket trading following the release, before paring gains. It closed at $2.5 lastly.

"In the Corporate & Investment Bank we maintained our #1 rank in Global IB fees, including #1 in M&A which grew share in every region". Baskin Finance owns 176,131 shares for 3.57% of their portfolio. Connable Office Inc who had been investing in Jpmorgan Chase & Company for a number of months, seems to be less bullish one the $386.64B market cap company. Mackenzie owns 3.43 million shares. JPMorgan Chase's dividend payout ratio (DPR) is presently 32.61%. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.17 and a current ratio of 0.17. J P Morgan Chase & Co has a 52 week low of $54.33 and a 52 week high of $88.17. The stock has a market capitalization of $379,643.31, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.87 and a beta of 1.24.

ILLEGAL ACTIVITY NOTICE: "JPMorgan Chase (NYSE:JPM) is Greenhaven Associates Inc.'s 5th Largest Position" was originally reported by registrarjournal.com and is the property of of registrarjournal.com.

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- Quarterly profit rose to $8.7 billion, or $2.37 a share, from $6.45 billion, or $1.65, a year earlier.

JPMorgan took a $2.4 billion hit from the new law last quarter.

While the bank posted gains in almost all of its businesses, Dimon, who had pushed for lower corporate taxes, skipped earnings calls with reporters or analysts on Friday morning to meet with clients and employees in Boston, JPMorgan officials said. East Coast Asset Management Ltd Llc has invested 0.19% in JPMorgan Chase & Co. On a per-share basis, JPMorgan earned $2.37 a share, up from $1.65 per share, beating analysts' forecasts. (NYSE:JPM) has risen 23.99% since April 13, 2017 and is uptrending. JPMorgan Chase's payout ratio is now 32.61%. (NYSE:JPM) for 6,668 shs. In Friday, January 12 report Bank of America maintained the stock with "Buy" rating. On Wednesday, January 24 the stock of JPMorgan Chase & Co. Barclays raised their price objective on JPMorgan Chase from $105.00 to $132.00 and gave the company an "overweight" rating in a research note on Tuesday, January 2nd. (NYSE:JPM) rating. Wells Fargo has "Buy" rating and $120.0 target. On Friday, January 12 the rating was maintained by RBC Capital Markets with "Buy". In a report issued on April 11, HSBC analyst Alevizos Alevizakos initiated coverage with a Hold rating on JPM and a price target of $111, which represents a slight downside potential from current levels.

In related news, General Counsel Stacey Friedman sold 17,729 shares of the firm's stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $113.42, for a total value of $3,009,259.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. For a total of 2.60M shares it reduced its holding in Verizon Communic (NYSE:VZ) by 305,452 shares in the quarter, and has cut its stake in Unitedhealth Gro (NYSE:UNH). Following the completion of the transaction, the general counsel now owns 21,260 shares of the company's stock, valued at approximately $2,388,135.80.

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