Iowa State Bank Has $19.50 Million Holdings in JPMorgan Chase & Co. $JPM

Iowa State Bank reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,257 shares of the financial services provider’s stock after selling 526 shares during the period. JPMorgan Chase & Co. accounts for 3.9% of Iowa State Bank’s portfolio, making the stock its 5th biggest holding. Iowa State Bank’s holdings in JPMorgan Chase & Co. were worth $19,498,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC increased its position in shares of JPMorgan Chase & Co. by 609,867.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after purchasing an additional 72,885,260 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of JPMorgan Chase & Co. by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock valued at $6,083,723,000 after purchasing an additional 454,226 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of JPMorgan Chase & Co. by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock valued at $5,040,469,000 after purchasing an additional 548,853 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of JPMorgan Chase & Co. by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock valued at $4,523,588,000 after purchasing an additional 890,553 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $3,972,807,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the topic of several analyst reports. Morgan Stanley boosted their target price on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Bank of America upped their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. UBS Group upped their target price on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Weiss Ratings restated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 8th. Finally, TD Cowen upped their price objective on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Fifteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $316.00.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm’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 value of $2,830,430.00. Following the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Up 2.4%

Shares of JPM opened at $308.08 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The stock’s 50 day moving average is $301.89 and its two-hundred day moving average is $277.44. The firm has a market cap of $847.15 billion, a P/E ratio of 15.81, a PEG ratio of 1.94 and a beta of 1.13.

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, beating the consensus estimate 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 company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same period last year, the company earned $6.12 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was down 10.5% compared to the same quarter last year. Analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 30.79%.

JPMorgan Chase & Co. Company 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.