United Bank Purchases 1,392 Shares of JPMorgan Chase & Co. $JPM

United Bank increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,014 shares of the financial services provider’s stock after buying an additional 1,392 shares during the quarter. JPMorgan Chase & Co. comprises about 3.1% of United Bank’s portfolio, making the stock its 9th biggest position. United Bank’s holdings in JPMorgan Chase & Co. were worth $8,122,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of JPM. Kingstone Capital Partners Texas LLC increased its holdings in 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 worth $21,133,630,000 after purchasing an additional 72,885,260 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in JPMorgan Chase & Co. by 1.9% in the first 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. lifted its stake in JPMorgan Chase & Co. by 2.7% in the first 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 lifted its stake in JPMorgan Chase & Co. by 5.1% in the first 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 purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $3,972,807,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent analyst reports. Wolfe Research increased their price objective on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. TD Cowen increased 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. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Daiwa Capital Markets raised their price objective on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Finally, KGI Securities increased their target price on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $322.27.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction 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 sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $305.29 on Wednesday. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The firm has a market cap of $839.48 billion, a P/E ratio of 15.12, a PEG ratio of 1.83 and a beta of 1.13. The company has a 50 day moving average of $303.98 and a 200 day moving average of $282.92. 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. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same period in the previous year, the business earned $4.37 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS 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 paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.72%.

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.