InvesTrust Takes Position in JPMorgan Chase & Co. (NYSE:JPM)

InvesTrust purchased a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, Holdings Channel.com reports. The firm purchased 44,160 shares of the financial services provider’s stock, valued at approximately $10,578,000. JPMorgan Chase & Co. comprises approximately 2.9% of InvesTrust’s investment portfolio, making the stock its 3rd biggest position.

Other large investors also recently bought and sold shares of the company. Private Client Services LLC grew its position in shares of JPMorgan Chase & Co. by 1.6% during the fourth quarter. Private Client Services LLC now owns 5,708 shares of the financial services provider’s stock worth $1,368,000 after acquiring an additional 91 shares during the last quarter. Sterneck Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 1.8% during the 4th quarter. Sterneck Capital Management LLC now owns 5,299 shares of the financial services provider’s stock worth $1,270,000 after purchasing an additional 93 shares during the period. Innova Wealth Partners acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth $422,000. One Wealth Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $210,000. Finally, Norway Savings Bank raised its holdings in shares of JPMorgan Chase & Co. by 0.7% in the fourth quarter. Norway Savings Bank now owns 22,260 shares of the financial services provider’s stock valued at $5,336,000 after buying an additional 151 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on JPM. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Bank of America boosted their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday. Royal Bank of Canada increased their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Daiwa Capital Markets dropped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Finally, Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $245.83.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock traded up $0.10 on Wednesday, hitting $243.27. The company’s stock had a trading volume of 4,783,800 shares, compared to its average volume of 8,394,249. The company has a market capitalization of $684.89 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. JPMorgan Chase & Co. has a 52-week low of $164.30 and a 52-week high of $254.31. The firm has a fifty day moving average price of $240.46 and a 200-day moving average price of $221.95. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the firm earned $4.33 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.