JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by 1ST Source Bank

1ST Source Bank lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the 3rd quarter, Holdings Channel reports. The fund owned 72,334 shares of the financial services provider’s stock after selling 357 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.9% of 1ST Source Bank’s holdings, making the stock its 19th biggest position. 1ST Source Bank’s holdings in JPMorgan Chase & Co. were worth $15,252,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. DGS Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the third quarter valued at about $208,000. Garden State Investment Advisory Services LLC increased its stake in JPMorgan Chase & Co. by 2.3% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 4,189 shares of the financial services provider’s stock valued at $887,000 after purchasing an additional 96 shares in the last quarter. Copley Financial Group Inc. acquired a new position in JPMorgan Chase & Co. during the third quarter worth $670,000. Oddo BHF Asset Management Sas purchased a new stake in JPMorgan Chase & Co. during the third quarter worth $6,031,000. Finally, Inspire Trust Co. N.A. increased its position in shares of JPMorgan Chase & Co. by 12.8% in the third quarter. Inspire Trust Co. N.A. now owns 19,309 shares of the financial services provider’s stock valued at $4,071,000 after buying an additional 2,192 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the topic of a number of research reports. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a research note on Thursday, November 7th. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $220.00 to $224.00 in a report on Monday, September 30th. Citigroup raised their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Barclays upped their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $234.81.

JPMorgan Chase & Co. Stock Down 0.8 %

Shares of NYSE JPM traded down $2.00 during trading on Friday, reaching $239.53. 1,726,946 shares of the stock were exchanged, compared to its average volume of 8,956,396. The company has a market capitalization of $674.36 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The business’s 50-day moving average price is $233.51 and its 200 day moving average price is $216.37. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a twelve month low of $161.71 and a twelve month high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.33 earnings per share. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.09%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.