Riverbend Wealth Management LLC Has $2.05 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Riverbend Wealth Management LLC grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,076 shares of the financial services provider’s stock after purchasing an additional 187 shares during the period. JPMorgan Chase & Co. comprises about 1.6% of Riverbend Wealth Management LLC’s portfolio, making the stock its 16th largest position. Riverbend Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,051,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Florida Financial Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 62.5% during the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after acquiring an additional 3,792 shares in the last quarter. Crown Wealth Group LLC increased its position in shares of JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after acquiring an additional 222 shares in the last quarter. Mosaic Financial Group LLC increased its position in shares of JPMorgan Chase & Co. by 0.8% during the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after acquiring an additional 78 shares in the last quarter. Morse Asset Management Inc increased its position in shares of JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after acquiring an additional 420 shares in the last quarter. Finally, Hidden Cove Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock worth $677,000 after acquiring an additional 112 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on JPM. The Goldman Sachs Group reissued a “buy” rating and set a $366.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Weiss Ratings raised shares of JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Saturday. Loop Capital set a $310.00 target price on shares of JPMorgan Chase & Co. in a research report on Thursday. Wolfe Research raised their target price on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Finally, Morgan Stanley raised their target price on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $322.27.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $304.05 on Tuesday. The company has a 50-day simple moving average of $303.68 and a two-hundred day simple moving average of $282.38. The stock has a market capitalization of $836.06 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. The company had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.37 EPS. Analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a dividend of $1.50 per share. This is a boost 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 29.72%.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.47% of the company’s stock.

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.