First Interstate Bank Trims Position in JPMorgan Chase & Co. (NYSE:JPM)

First Interstate Bank cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 45,805 shares of the financial services provider’s stock after selling 1,897 shares during the quarter. JPMorgan Chase & Co. comprises 0.6% of First Interstate Bank’s portfolio, making the stock its 27th biggest position. First Interstate Bank’s holdings in JPMorgan Chase & Co. were worth $7,791,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of JPM. First Citizens Financial Corp raised its position in JPMorgan Chase & Co. by 6.0% during the 3rd quarter. First Citizens Financial Corp now owns 10,756 shares of the financial services provider’s stock worth $1,560,000 after buying an additional 609 shares during the last quarter. Global Strategic Investment Solutions LLC increased its holdings in shares of JPMorgan Chase & Co. by 13.6% during the 3rd quarter. Global Strategic Investment Solutions LLC now owns 2,052 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 245 shares in the last quarter. TI Trust Inc. increased its holdings in shares of JPMorgan Chase & Co. by 1.4% during the 3rd quarter. TI Trust Inc. now owns 8,788 shares of the financial services provider’s stock valued at $1,274,000 after purchasing an additional 118 shares in the last quarter. OneAscent Financial Services LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.2% during the 3rd quarter. OneAscent Financial Services LLC now owns 6,388 shares of the financial services provider’s stock valued at $926,000 after purchasing an additional 75 shares in the last quarter. Finally, Strategic Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 4.1% during the 3rd quarter. Strategic Advisors LLC now owns 43,914 shares of the financial services provider’s stock valued at $6,368,000 after purchasing an additional 1,720 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on JPM shares. BMO Capital Markets cut their target price on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a report on Monday, April 15th. Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $185.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. Finally, Barclays lifted their price target on shares of JPMorgan Chase & Co. from $186.00 to $212.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $192.05.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,810 shares of JPMorgan Chase & Co. stock in a transaction on Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $323,917.60. Following the sale, the insider now owns 44,956 shares of the company’s stock, valued at approximately $8,045,325.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Vice Chairman Peter Scher sold 1,810 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $323,917.60. Following the sale, the insider now directly owns 44,956 shares in the company, valued at approximately $8,045,325.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ashley Bacon sold 3,368 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $179.00, for a total transaction of $602,872.00. Following the completion of the sale, the insider now owns 202,093 shares in the company, valued at $36,174,647. The disclosure for this sale can be found here. Insiders have sold a total of 1,020,696 shares of company stock valued at $186,794,151 in the last 90 days. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. Trading Up 1.4 %

Shares of JPM opened at $192.11 on Wednesday. JPMorgan Chase & Co. has a 52-week low of $131.81 and a 52-week high of $200.94. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The firm’s fifty day moving average is $189.46 and its two-hundred day moving average is $169.90. The stock has a market cap of $551.76 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 2.34 and a beta of 1.15.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.39%. The ex-dividend date is Thursday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s payout ratio is 27.78%.

About JPMorgan Chase & Co.

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.