Davenport Co Lowers stake in JPMorgan Chase & Co. (JPM)

JPMorgan Chase & Co. (JPM) : Davenport Co reduced its stake in JPMorgan Chase & Co. by 0.66% during the most recent quarter end. The investment management company now holds a total of 1,726,719 shares of JPMorgan Chase & Co. which is valued at $109,128,641 after selling 11,412 shares in JPMorgan Chase & Co. , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.JPMorgan Chase & Co. makes up approximately 1.69% of Davenport Co’s portfolio.

JPMorgan Chase & Co. opened for trading at $63.69 and hit $64 on the upside on Monday, eventually ending the session at $63.79, with a gain of 0.93% or 0.59 points. The heightened volatility saw the trading volume jump to 1,02,47,330 shares. Company has a market cap of $233,258 M.

Other Hedge Funds, Including , Glenview State Bank Trust Dept. reduced its stake in JPM by selling 700 shares or 10.53% in the most recent quarter. The Hedge Fund company now holds 5,950 shares of JPM which is valued at $376,040. JPMorgan Chase & Co. makes up approx 0.23% of Glenview State Bank Trust Dept.’s portfolio.Fort Pitt Capital Group reduced its stake in JPM by selling 19 shares or 0.19% in the most recent quarter. The Hedge Fund company now holds 9,733 shares of JPM which is valued at $622,620. JPMorgan Chase & Co. makes up approx 0.08% of Fort Pitt Capital Group’s portfolio.Capital One National Association boosted its stake in JPM in the latest quarter, The investment management firm added 6,851 additional shares and now holds a total of 195,068 shares of JPMorgan Chase & Co. which is valued at $12,478,500. JPMorgan Chase & Co. makes up approx 1.11% of Capital One National Association’s portfolio.Private Bank Trust Co reduced its stake in JPM by selling 1,757 shares or 2.93% in the most recent quarter. The Hedge Fund company now holds 58,213 shares of JPM which is valued at $3,723,886. JPMorgan Chase & Co. makes up approx 0.64% of Private Bank Trust Co’s portfolio.

On the company’s financial health, JPMorgan Chase & Co. reported $1.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 13, 2016. Analyst had a consensus of $1.26. The company had revenue of $23200.00 million for the quarter, compared to analysts expectations of $22874.02 million. The company’s revenue was down -3.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.45 EPS.

Many Wall Street Analysts have commented on JPMorgan Chase & Co.. JPMorgan Chase & Co. was Downgraded by Portales Partners to ” Underperform” on Feb 22, 2016.

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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