Community Bank of Raymore Cuts Holdings in JPMorgan Chase & Co. $JPM

Community Bank of Raymore trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,390 shares of the financial services provider’s stock after selling 1,330 shares during the period. JPMorgan Chase & Co. makes up approximately 11.7% of Community Bank of Raymore’s investment portfolio, making the stock its largest holding. Community Bank of Raymore’s holdings in JPMorgan Chase & Co. were worth $15,768,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Harbor Asset Planning Inc. bought a new stake in JPMorgan Chase & Co. during the second quarter worth about $26,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. during the first quarter worth about $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the first quarter worth about $30,000. Ryan Investment Management Inc. bought a new stake in JPMorgan Chase & Co. during the second quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc raised its holdings in JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $305.30 on Thursday. 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 $304.24 and its 200-day moving average is $283.41. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $839.49 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.84 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The company had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter in the prior year, the business earned $4.37 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current 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. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on JPM. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Zacks Research raised JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Royal Bank Of Canada reissued a “buy” rating and set a $343.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Finally, Loop Capital set a $310.00 price target on JPMorgan Chase & Co. in a research report on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $322.27.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company’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 of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.47% of the company’s stock.

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.