Tufton Capital Management Lowers stake in JPMorgan Chase & Co. (JPM)

JPMorgan Chase & Co. (JPM) : Tufton Capital Management reduced its stake in JPMorgan Chase & Co. by 3.16% during the most recent quarter end. The investment management company now holds a total of 177,952 shares of JPMorgan Chase & Co. which is valued at $11,447,652 after selling 5,798 shares in JPMorgan Chase & Co. , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.JPMorgan Chase & Co. makes up approximately 2.27% of Tufton Capital Management’s portfolio.

Other Hedge Funds, Including , Smith Asset Management Group Lp reduced its stake in JPM by selling 556 shares or 30.6% in the most recent quarter. The Hedge Fund company now holds 1,261 shares of JPM which is valued at $81,120.Heritage Investors Management Corp boosted its stake in JPM in the latest quarter, The investment management firm added 1,355 additional shares and now holds a total of 315,819 shares of JPMorgan Chase & Co. which is valued at $20,199,783. JPMorgan Chase & Co. makes up approx 1.47% of Heritage Investors Management Corp’s portfolio.Chevy Chase Trust Holdings boosted its stake in JPM in the latest quarter, The investment management firm added 24,062 additional shares and now holds a total of 3,155,232 shares of JPMorgan Chase & Co. which is valued at $195,087,995. JPMorgan Chase & Co. makes up approx 1.07% of Chevy Chase Trust Holdings’s portfolio.Iowa State Bank boosted its stake in JPM in the latest quarter, The investment management firm added 925 additional shares and now holds a total of 68,092 shares of JPMorgan Chase & Co. which is valued at $4,210,128. JPMorgan Chase & Co. makes up approx 2.13% of Iowa State Bank’s portfolio.

JPMorgan Chase & Co. closed down -0.13 points or -0.20% at $63.97 with 1,32,10,412 shares getting traded on Friday. Post opening the session at $63.8, the shares hit an intraday low of $63.75 and an intraday high of $64.29 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, JPMorgan Chase & Co. reported $1.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Jul 14, 2016. Analyst had a consensus of $1.43. The company had revenue of $24400.00 million for the quarter, compared to analysts expectations of $23843.59 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS.

Many Wall Street Analysts have commented on JPMorgan Chase & Co.. Berenberg Initiated JPMorgan Chase & Co. on Jul 13, 2016 to “Sell”, Price Target of the shares are set at $52.

JPMorgan Chase & Co. is a financial holding company. The Company is engaged in investment banking financial services for consumers and small businesses commercial banking financial transaction processing and asset management. JPMorgan Chase’s activities are organized into four business segments. The Company’s Consumer & Community Banking segment serves consumers and businesses through personal service at bank branches and through ATMs online mobile and telephone banking. The Corporate & Investment Bank comprising Banking and Markets & Investor Services offers investment banking market-making prime brokerage and treasury and securities products and services. The Commercial Banking (CB) segment delivers industry knowledge local expertise and service to the United States and the United States multinational clients. The Asset Management segment comprises investment and wealth management. The Company also operates a Corporate segment.

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