iAB Financial Bank lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,168 shares of the financial services provider’s stock after selling 5,482 shares during the period. JPMorgan Chase & Co. comprises 4.4% of iAB Financial Bank’s investment portfolio, making the stock its 4th largest position. iAB Financial Bank’s holdings in JPMorgan Chase & Co. were worth $8,535,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Bartlett & Co. LLC increased its stake in shares of JPMorgan Chase & Co. by 4.2% in the first quarter. Bartlett & Co. LLC now owns 88,152 shares of the financial services provider’s stock worth $7,743,000 after buying an additional 3,584 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in shares of JPMorgan Chase & Co. by 3.7% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 14,595 shares of the financial services provider’s stock worth $1,282,000 after buying an additional 516 shares during the period. Granite Investment Partners LLC increased its stake in shares of JPMorgan Chase & Co. by 42.3% in the first quarter. Granite Investment Partners LLC now owns 23,538 shares of the financial services provider’s stock worth $2,068,000 after buying an additional 7,000 shares during the period. Baystate Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 51.7% in the first quarter. Baystate Wealth Management LLC now owns 7,187 shares of the financial services provider’s stock worth $614,000 after buying an additional 2,448 shares during the period. Finally, Adviser Investments LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $6,648,000. 74.06% of the stock is owned by institutional investors.
Shares of JPMorgan Chase & Co. (NYSE JPM) opened at 91.42 on Friday. The stock’s 50 day moving average price is $91.87 and its 200-day moving average price is $88.50. The company has a market cap of $321.66 billion, a PE ratio of 13.49 and a beta of 1.19. JPMorgan Chase & Co. has a 12-month low of $65.11 and a 12-month high of $95.22.
JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.23. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. JPMorgan Chase & Co. had a net margin of 27.60% and a return on equity of 11.38%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 earnings per share. On average, equities research analysts forecast that JPMorgan Chase & Co. will post $6.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Thursday, July 6th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.19%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.59%.
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Several research firms have recently weighed in on JPM. Wells Fargo & Company began coverage on JPMorgan Chase & Co. in a report on Wednesday. They issued an “outperform” rating and a $110.00 target price for the company. Berenberg Bank set a $65.00 target price on JPMorgan Chase & Co. and gave the company a “sell” rating in a report on Thursday, August 3rd. BidaskClub downgraded JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research note on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of JPMorgan Chase & Co. in a research note on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. JPMorgan Chase & Co. presently has an average rating of “Hold” and an average price target of $85.53.
In other news, CFO Marianne Lake sold 17,596 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $91.58, for a total transaction of $1,611,441.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicole Giles sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $91.29, for a total transaction of $91,290.00. Following the transaction, the insider now owns 3,783 shares in the company, valued at $345,350.07. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.
About JPMorgan Chase & Co.
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
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