Cape ANN Savings Bank Reduces Holdings in JPMorgan Chase & Co. $JPM

Cape ANN Savings Bank lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,597 shares of the financial services provider’s stock after selling 825 shares during the period. JPMorgan Chase & Co. comprises about 1.3% of Cape ANN Savings Bank’s investment portfolio, making the stock its 18th largest position. Cape ANN Savings Bank’s holdings in JPMorgan Chase & Co. were worth $2,202,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $28,000. University of Illinois Foundation acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth about $30,000. Ryan Investment Management Inc. acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth about $37,000. Christopher J. Hasenberg Inc grew its stake in JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 106 shares in the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $76,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.4%

NYSE JPM opened at $301.12 on Friday. The firm has a market cap of $828.00 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.97 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The stock’s 50-day moving average is $301.61 and its 200-day moving average is $276.60. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter last year, the firm earned $6.12 EPS. JPMorgan Chase & Co.’s revenue for the quarter was down 10.5% compared to the same quarter last year. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a dividend of $1.50 per share. 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. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is presently 30.79%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on JPM. Royal Bank Of Canada reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. TD Cowen upped their target price on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Finally, Zacks Research lowered JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average target price of $313.89.

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.