Ledyard National Bank increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 93,940 shares of the financial services provider’s stock after acquiring an additional 323 shares during the quarter. JPMorgan Chase & Co. accounts for 1.5% of Ledyard National Bank’s portfolio, making the stock its 16th largest holding. Ledyard National Bank’s holdings in JPMorgan Chase & Co. were worth $13,663,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Nordwand Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $30,000. Sageworth Trust Co lifted its holdings in shares of JPMorgan Chase & Co. by 266.7% in the first quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 296 shares during the last quarter. Robbins Farley lifted its holdings in shares of JPMorgan Chase & Co. by 54.2% in the first quarter. Robbins Farley now owns 475 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 167 shares during the last quarter. Miller Wealth Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $67,000. Finally, Guardian Wealth Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $70,000. Institutional investors own 68.94% of the company’s stock.
In other news, General Counsel Stacey Friedman sold 4,310 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total value of $624,346.60. Following the completion of the sale, the general counsel now owns 53,425 shares in the company, valued at approximately $7,739,145.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.79% of the stock is currently owned by company insiders.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $4.33 earnings per share for the quarter, beating the consensus estimate of $3.95 by $0.38. The company had revenue of $40.69 billion during the quarter, compared to analyst estimates of $39.63 billion. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. JPMorgan Chase & Co.’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.12 EPS. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.67 EPS for the current year.
JPMorgan Chase & Co. Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th were paid a $1.05 dividend. The ex-dividend date was Thursday, October 5th. This represents a $4.20 annualized dividend and a dividend yield of 2.75%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. JPMorgan Chase & Co.’s payout ratio is currently 25.07%.
Analyst Ratings Changes
A number of research firms have recently commented on JPM. HSBC began coverage on shares of JPMorgan Chase & Co. in a report on Thursday, September 7th. They issued a “hold” rating and a $159.00 target price for the company. Jefferies Financial Group dropped their price objective on shares of JPMorgan Chase & Co. from $176.00 to $169.00 in a report on Tuesday, October 10th. StockNews.com assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, October 5th. They issued a “hold” rating for the company. Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $158.00 to $167.00 in a report on Thursday, October 5th. Finally, BMO Capital Markets raised their price objective on shares of JPMorgan Chase & Co. from $167.00 to $171.00 and gave the company a “market perform” rating in a report on Monday, October 16th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $168.80.
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, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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