Penobscot Investment Management Company Inc. Increases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Penobscot Investment Management Company Inc. boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 91,687 shares of the financial services provider’s stock after acquiring an additional 1,770 shares during the period. JPMorgan Chase & Co. accounts for approximately 2.1% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 8th largest holding. Penobscot Investment Management Company Inc.’s holdings in JPMorgan Chase & Co. were worth $10,251,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Personal Wealth Partners purchased a new position in shares of JPMorgan Chase & Co. during the second quarter worth about $28,000. Global Trust Asset Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 2,027.2% during the second quarter. Global Trust Asset Management LLC now owns 5,318 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 5,068 shares in the last quarter. Smart Portfolios LLC grew its holdings in shares of JPMorgan Chase & Co. by 29.6% during the fourth quarter. Smart Portfolios LLC now owns 499 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 114 shares in the last quarter. Semmax Financial Advisors Inc. purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $56,000. Finally, Sound Income Strategies LLC grew its holdings in shares of JPMorgan Chase & Co. by 126.7% during the second quarter. Sound Income Strategies LLC now owns 510 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 285 shares in the last quarter. Institutional investors and hedge funds own 72.31% of the company’s stock.

Shares of JPM opened at $108.69 on Thursday. The firm has a market cap of $347.53 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.56 and a beta of 1.16. The stock has a 50 day simple moving average of $112.30 and a two-hundred day simple moving average of $108.95. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.97 and a quick ratio of 0.97. JPMorgan Chase & Co. has a 1 year low of $91.11 and a 1 year high of $119.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.50 by $0.32. JPMorgan Chase & Co. had a return on equity of 14.40% and a net margin of 24.73%. The firm had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.52 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 9.91 earnings per share for the current year.

In other JPMorgan Chase & Co. news, EVP Peter Scher sold 10,816 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $115.00, for a total value of $1,243,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mellody L. Hobson acquired 18,200 shares of the stock in a transaction on Thursday, August 8th. The stock was bought at an average price of $109.91 per share, with a total value of $2,000,362.00. Following the transaction, the director now directly owns 7,804 shares of the company’s stock, valued at approximately $857,737.64. The disclosure for this purchase can be found here. Insiders own 0.76% of the company’s stock.

Several analysts have issued reports on the company. DZ Bank reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday. Zacks Investment Research lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Deutsche Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Friday, June 28th. ValuEngine lowered JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating and issued a $117.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $121.94.

JPMorgan Chase & Co. 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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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