Busey Bank Has $62.97 Million Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Busey Bank reduced its stake in JPMorgan Chase & Co. by 1.6%, holding 217,196 shares worth approximately $62.97 million, making it the bank's 13th largest position.
• JPMorgan reported $4.96 EPS for the last quarter, beating estimates, but revenues declined 10.5% year-over-year to $44.91 billion.
• JPMorgan Chase's quarterly dividend has been increased to $1.50 per share, representing an annualized dividend yield of 1.9%, payable on October 31st.

Busey Bank decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 217,196 shares of the financial services provider's stock after selling 3,513 shares during the quarter. JPMorgan Chase & Co. makes up about 1.9% of Busey Bank's holdings, making the stock its 13th biggest position. Busey Bank's holdings in JPMorgan Chase & Co. were worth $62,967,000 at the end of the most recent quarter.

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

JPMorgan Chase & Co. Trading Down 0.7%

Shares of JPM stock opened at $312.55 on Tuesday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $315.80. The company has a market capitalization of $859.42 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.09 and a beta of 1.13. The firm has a 50-day moving average price of $296.91 and a 200 day moving average price of $269.93. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $43.76 billion. During the same period last year, the firm posted $6.12 EPS. The firm's quarterly revenue was down 10.5% on a year-over-year basis. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, October 6th. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio is 28.73%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. Finally, Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a research report on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $292.78.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated 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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company's stock.

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.

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