First Citizens Bank & Trust Co. Grows Holdings in JPMorgan Chase & Co. $JPM

First Citizens Bank & Trust Co. boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 6.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 143,298 shares of the financial services provider’s stock after purchasing an additional 8,985 shares during the period. JPMorgan Chase & Co. comprises 0.6% of First Citizens Bank & Trust Co.’s portfolio, making the stock its 20th largest position. First Citizens Bank & Trust Co.’s holdings in JPMorgan Chase & Co. were worth $41,544,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cornerstone Advisory LLC lifted its holdings in JPMorgan Chase & Co. by 1.7% during the 2nd quarter. Cornerstone Advisory LLC now owns 13,302 shares of the financial services provider’s stock worth $3,857,000 after buying an additional 220 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of JPMorgan Chase & Co. by 19.6% during the 2nd quarter. Bleakley Financial Group LLC now owns 107,775 shares of the financial services provider’s stock worth $31,245,000 after purchasing an additional 17,649 shares during the period. Insight Advisors LLC PA increased its position in JPMorgan Chase & Co. by 0.8% in the 2nd quarter. Insight Advisors LLC PA now owns 4,999 shares of the financial services provider’s stock valued at $1,450,000 after acquiring an additional 41 shares during the period. Principle Wealth Partners LLC increased its position in JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Principle Wealth Partners LLC now owns 355,616 shares of the financial services provider’s stock valued at $103,097,000 after acquiring an additional 3,708 shares during the period. Finally, Prosperity Financial Group Inc. raised its position in shares of JPMorgan Chase & Co. by 9.4% during the 2nd quarter. Prosperity Financial Group Inc. now owns 7,287 shares of the financial services provider’s stock worth $2,112,000 after buying an additional 627 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.7%

Shares of NYSE JPM opened at $311.47 on Monday. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. 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 firm has a market capitalization of $856.48 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.84 and a beta of 1.13. The firm’s 50-day moving average is $304.92 and its 200-day moving average is $284.86.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.83 by $0.24. The firm had revenue of $46.43 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company posted $4.37 EPS. Equities 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 was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were given a $1.50 dividend. The ex-dividend date of this dividend was 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 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JPM. Citigroup lifted their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. KGI Securities boosted their price target on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, Weiss Ratings raised JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (a-)” rating in a report on Saturday, October 25th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $322.27.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction 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 completion of the sale, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.