6. JPMorgan Chase
JPMorgan Chase (JPM)was yet another bank that curried favor with hedge funds, attracting $1.4 billion in net purchases.
Maverick Capital and Shumway Capital were among the prominent funds that initiated fresh positions in the stock. Eton Park, Appaloosa Management and FrontPoint Partners added more to their holdings as well.
JPMorgan reported a strong performance in the fourth quarter even as Bank of America and Citigroup (C) faltered. Earnings grew 47% to $4.83 billion, or $1.12, per share from $3.28 billion, or 74 cents, per share a year earlier, easily beating estimates. CEO Jamie Dimon has said that the bank will raise its dividend to as much as 75 cents per share if given a green light by regulators. The bank currently pays an annual dividend of 20 cents per share, giving it a dividend yield of 0.4 percent. 21 analysts rate the stock a buy, while 3 have a hold rating. There are no sell ratings on the stock.Select the service that is right for you!
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