Bangor Savings Bank Sells 1,469 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Bangor Savings Bank reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,134 shares of the financial services provider's stock after selling 1,469 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.0% of Bangor Savings Bank's portfolio, making the stock its 18th largest holding. Bangor Savings Bank's holdings in JPMorgan Chase & Co. were worth $10,826,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. SOA Wealth Advisors LLC. grew its stake in shares of JPMorgan Chase & Co. by 108.2% during the first quarter. SOA Wealth Advisors LLC. now owns 44,431 shares of the financial services provider's stock valued at $10,899,000 after buying an additional 23,094 shares during the last quarter. Wynn Capital LLC grew its stake in shares of JPMorgan Chase & Co. by 23.6% during the first quarter. Wynn Capital LLC now owns 22,574 shares of the financial services provider's stock valued at $5,537,000 after buying an additional 4,310 shares during the last quarter. City Center Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at about $215,000. Wealthcare Capital Partners LLC grew its stake in shares of JPMorgan Chase & Co. by 3.4% during the first quarter. Wealthcare Capital Partners LLC now owns 3,481 shares of the financial services provider's stock valued at $854,000 after buying an additional 115 shares during the last quarter. Finally, Barden Capital Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at about $1,484,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $265.81 on Monday. The firm has a 50 day moving average price of $247.68 and a 200-day moving average price of $249.96. JPMorgan Chase & Co. has a 52-week low of $190.88 and a 52-week high of $280.25. The firm has a market capitalization of $738.71 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 2.83 and a beta of 1.08. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same period last year, the business earned $4.44 earnings per share. The business's revenue was up 8.0% on a year-over-year basis. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 2.11%. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Insider Activity

In related news, General Counsel Stacey Friedman sold 6,608 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the sale, the general counsel now owns 36,520 shares of the company's stock, valued at $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Piepszak sold 4,272 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.03, for a total transaction of $1,055,312.16. Following the sale, the chief operating officer now directly owns 50,197 shares of the company's stock, valued at $12,400,164.91. This trade represents a 7.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,722 shares of company stock worth $25,599,477. Insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JPM. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Bank of America dropped their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a "hold" rating for the company. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 target price for the company. Finally, Evercore ISI dropped their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Hold" and a consensus price target of $267.15.

JPMorgan Chase & Co. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.