Fulton Bank N.A. Has $13.46 Million Position in JPMorgan Chase & Co. $JPM

Key Points

• Fulton Bank N.A. reduced its stake in JPMorgan Chase & Co. by 5.7%, owning 46,427 shares worth approximately $13.46 million after selling 2,805 shares in the second quarter.
• JPMorgan Chase & Co. recently approved an increase in its quarterly dividend to $1.50 from the previous $1.40, resulting in an annualized yield of 1.9%.
• As of now, 71.55% of JPMorgan Chase & Co.'s stock is owned by institutional investors and hedge funds, highlighting significant institutional interest in the financial services provider.

Fulton Bank N.A. reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,427 shares of the financial services provider's stock after selling 2,805 shares during the quarter. Fulton Bank N.A.'s holdings in JPMorgan Chase & Co. were worth $13,460,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Vista Investment Partners LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.6% during the second quarter. Vista Investment Partners LLC now owns 10,401 shares of the financial services provider's stock worth $3,015,000 after purchasing an additional 65 shares during the period. Waypoint Wealth Partners Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth approximately $586,000. NorthCrest Asset Manangement LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.5% during the second quarter. NorthCrest Asset Manangement LLC now owns 220,076 shares of the financial services provider's stock worth $65,142,000 after purchasing an additional 1,173 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of JPMorgan Chase & Co. by 14.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,031,381 shares of the financial services provider's stock worth $601,289,000 after purchasing an additional 252,986 shares during the period. Finally, Strathmore Capital Advisors Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth approximately $834,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were 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 of the company's stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, July 7th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. HSBC reiterated a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Finally, Morgan Stanley lifted their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $292.78.

JPMorgan Chase & Co. Trading Up 0.3%

NYSE:JPM opened at $314.25 on Friday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $315.80. The firm has a market cap of $864.11 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 2.08 and a beta of 1.13. 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 company's 50 day moving average is $296.43 and its 200-day moving average is $269.15.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter last year, the firm posted $6.12 earnings per share. The company's quarterly revenue was down 10.5% compared to the same quarter last year. Equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a $1.50 dividend. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is 28.73%.

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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