Independence Bank of Kentucky Has $26.74 Million Stock Position in JPMorgan Chase & Co. $JPM

Independence Bank of Kentucky decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,242 shares of the financial services provider’s stock after selling 540 shares during the period. JPMorgan Chase & Co. accounts for approximately 3.8% of Independence Bank of Kentucky’s holdings, making the stock its 3rd biggest holding. Independence Bank of Kentucky’s holdings in JPMorgan Chase & Co. were worth $26,742,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in JPM. Brighton Jones LLC lifted its holdings in shares of JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after acquiring an additional 4,841 shares during the last quarter. Vest Financial LLC lifted its holdings in shares of JPMorgan Chase & Co. by 22.3% in the 1st quarter. Vest Financial LLC now owns 184,141 shares of the financial services provider’s stock valued at $45,170,000 after acquiring an additional 33,618 shares during the last quarter. Fjell Capital LLC lifted its holdings in shares of JPMorgan Chase & Co. by 2.8% in the 1st quarter. Fjell Capital LLC now owns 5,933 shares of the financial services provider’s stock valued at $1,455,000 after acquiring an additional 163 shares during the last quarter. Foster Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 15.8% in the 1st quarter. Foster Group Inc. now owns 7,372 shares of the financial services provider’s stock valued at $1,808,000 after acquiring an additional 1,005 shares during the last quarter. Finally, Edge Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.0% in the 1st quarter. Edge Wealth Management LLC now owns 90,235 shares of the financial services provider’s stock valued at $22,135,000 after acquiring an additional 853 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $309.89 on Friday. The firm has a market cap of $852.11 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 2.03 and a beta of 1.13. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s 50 day simple moving average is $300.67 and its 200-day simple moving average is $274.48.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. The company 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%. JPMorgan Chase & Co.’s revenue for the quarter 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 predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the business’s 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 completion of the transaction, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

JPM has been the subject of several analyst reports. Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Weiss Ratings reissued a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research note on Saturday, September 27th. Bank of America raised their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Morgan Stanley raised their price objective on shares of JPMorgan Chase & Co. from $298.00 to $336.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Phillip Securities downgraded shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and an average target price of $303.45.

About JPMorgan Chase & Co.

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.