Bell Bank Has $6.03 Million Position in JPMorgan Chase & Co. $JPM

Key Points

• Bell Bank has increased its stake in JPMorgan Chase & Co. by 10.9%, owning a total of 20,785 shares valued at $6,026,000 after purchasing an additional 2,036 shares in the second quarter.
• JPMorgan Chase & Co. announced a quarterly dividend increase to $1.50 per share, up from the previous $1.40, with an annual yield of 1.9%.
• Analysts have mixed views on JPMorgan’s stock, with price targets ranging from $292.78 to $345.00, reflecting a consensus rating of "Moderate Buy."

Bell Bank lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,785 shares of the financial services provider's stock after buying an additional 2,036 shares during the period. Bell Bank's holdings in JPMorgan Chase & Co. were worth $6,026,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $28,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $30,000. Ryan Investment Management Inc. acquired a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $37,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. during the first quarter valued at $33,000. Finally, Christopher J. Hasenberg Inc boosted its stake in shares of JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after buying an additional 106 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM traded down $2.23 on Monday, hitting $312.55. The company's stock had a trading volume of 7,508,137 shares, compared to its average volume of 7,917,725. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $315.80. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $859.42 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. The stock's 50-day moving average is $296.43 and its two-hundred day moving average is $269.43.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the previous year, the business posted $6.12 earnings per share. The firm's quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.73%.

Analysts Set New Price Targets

Several research firms recently commented on JPM. Truist Financial increased their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a research report on Friday, June 27th. HSBC reissued a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Finally, Evercore ISI set a $298.00 target price on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $292.78.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, September 2nd. The shares were 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 in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is owned by company insiders.

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.