First Bank & Trust Cuts Stake in JPMorgan Chase & Co. $JPM

First Bank & Trust lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.9% in the second quarter, Holdings Channel reports. The firm owned 10,202 shares of the financial services provider’s stock after selling 307 shares during the period. First Bank & Trust’s holdings in JPMorgan Chase & Co. were worth $2,958,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. acquired a new position in JPMorgan Chase & Co. during the first quarter worth about $28,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. during the first quarter worth about $30,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth about $33,000. Christopher J. Hasenberg Inc boosted its position in JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $64,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $309.19 on Wednesday. The company has a fifty day simple moving average of $294.81 and a two-hundred day simple moving average of $268.04. The company has a market cap of $850.20 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $310.90.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.12 earnings per share. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is presently 28.73%.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent research reports. Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Monday, July 7th. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research report on Tuesday. Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Finally, Truist Financial lifted their target price on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a “hold” rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $292.78.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.