Providence First Trust Co Grows Position in JPMorgan Chase & Co. $JPM

Providence First Trust Co grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 29.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,881 shares of the financial services provider’s stock after purchasing an additional 2,897 shares during the quarter. JPMorgan Chase & Co. makes up about 1.3% of Providence First Trust Co’s portfolio, making the stock its 20th biggest holding. Providence First Trust Co’s holdings in JPMorgan Chase & Co. were worth $3,734,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in JPM. Harbor Asset Planning Inc. acquired a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Ryan Investment Management Inc. acquired a new position in JPMorgan Chase & Co. in the 2nd quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc boosted its position 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 purchasing an additional 106 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Up 0.3%

Shares of JPM opened at $314.30 on Friday. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The firm’s fifty day moving average is $306.18 and its two-hundred day moving average is $286.92. The stock has a market cap of $864.26 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14.

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 analysts’ consensus estimates of $4.83 by $0.24. The business 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 company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.37 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

Insider Buying and Selling

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 stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the sale, the insider directly owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on JPM shares. Citigroup boosted their price objective 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. Truist Financial lifted their price target on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research note on Tuesday, September 23rd. KGI Securities upped their price objective on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. TD Cowen increased their price objective on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Finally, Loop Capital set a $310.00 target price on shares of JPMorgan Chase & Co. in a research report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.38.

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.