JPMorgan Chase & Co. (NYSE:JPM) Stock Holdings Lifted by Independence Bank of Kentucky

Independence Bank of Kentucky lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,342 shares of the financial services provider’s stock after buying an additional 4,121 shares during the quarter. JPMorgan Chase & Co. accounts for 2.3% of Independence Bank of Kentucky’s portfolio, making the stock its 6th biggest holding. Independence Bank of Kentucky’s holdings in JPMorgan Chase & Co. were worth $10,826,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of JPM. San Luis Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. by 2.4% in the third quarter. San Luis Wealth Advisors LLC now owns 21,553 shares of the financial services provider’s stock valued at $4,545,000 after purchasing an additional 496 shares during the last quarter. Private Advisory Group LLC grew its position in JPMorgan Chase & Co. by 994.8% during the third quarter. Private Advisory Group LLC now owns 19,870 shares of the financial services provider’s stock valued at $4,190,000 after acquiring an additional 18,055 shares during the period. Watts Gwilliam & Co. LLC purchased a new stake in JPMorgan Chase & Co. during the third quarter valued at about $3,682,000. Contravisory Investment Management Inc. boosted its position in shares of JPMorgan Chase & Co. by 1,411.9% in the third quarter. Contravisory Investment Management Inc. now owns 38,131 shares of the financial services provider’s stock worth $8,040,000 after buying an additional 35,609 shares during the period. Finally, Pinnacle Bancorp Inc. boosted its position in shares of JPMorgan Chase & Co. by 32.4% in the third quarter. Pinnacle Bancorp Inc. now owns 21,241 shares of the financial services provider’s stock worth $4,479,000 after buying an additional 5,200 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM traded up $7.24 during mid-day trading on Friday, hitting $220.08. The stock had a trading volume of 3,436,436 shares, compared to its average volume of 9,073,871. The firm has a market cap of $626.17 billion, a P/E ratio of 11.87, a PEG ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The business has a fifty day moving average price of $211.32 and a 200-day moving average price of $203.46.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.06 by $0.31. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.33 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.27%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

Wall Street Analyst Weigh In

Several research analysts recently commented on JPM shares. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Daiwa Capital Markets dropped their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday. Jefferies Financial Group lifted their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Evercore ISI upped their price objective on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $213.47.

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.