Community Trust & Investment Co. Trims Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Community Trust & Investment Co. reduced its holdings in JPMorgan Chase & Co. by 1.5%, now owning 166,410 shares valued at approximately $48.24 million.
• Analysts have issued mixed ratings for JPMorgan Chase, with price targets ranging from $235.00 to $330.00 and an average consensus price target of $292.78.
• JPMorgan Chase recently declared an increased quarterly dividend of $1.50 per share, up from $1.40, indicating a dividend yield of 1.9%.

Community Trust & Investment Co. trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,410 shares of the financial services provider's stock after selling 2,546 shares during the quarter. JPMorgan Chase & Co. comprises 2.8% of Community Trust & Investment Co.'s investment portfolio, making the stock its 8th biggest holding. Community Trust & Investment Co.'s holdings in JPMorgan Chase & Co. were worth $48,244,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. 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 purchased a new position in JPMorgan Chase & Co. during the first quarter worth about $30,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $33,000. Christopher J. Hasenberg Inc increased its position in JPMorgan Chase & Co. by 212.0% during the 2nd 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 during the period. Finally, Capital A Wealth Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $64,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on JPM. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday, July 7th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Finally, Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $292.78.

JPMorgan Chase & Co. Trading Down 0.7%

Shares of JPM stock traded down $2.05 during mid-day trading on Monday, reaching $312.73. The company's stock had a trading volume of 4,235,313 shares, compared to its average volume of 9,646,851. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $859.93 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. The company's 50 day simple moving average is $296.43 and its 200-day simple moving average is $269.43. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $315.80.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 30.79%.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the 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 completion of the transaction, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by 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.