Hanson & Doremus Investment Management Sells 4,292 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Hanson & Doremus Investment Management reduced its stake in JPMorgan Chase & Co. by 20%, selling 4,292 shares and retaining a total of 17,174 shares valued at approximately $4.98 million.
• A recent quarterly dividend declared by JPMorgan Chase of $1.50 per share represents an increase from the previous $1.40 dividend, with an annualized yield of 1.9%.
• Several analysts have recently boosted their price targets for JPMorgan Chase, with Bank of America increasing its target from $330 to $340, reflecting a generally positive outlook on the stock.

Hanson & Doremus Investment Management decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 20.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,174 shares of the financial services provider's stock after selling 4,292 shares during the period. JPMorgan Chase & Co. comprises approximately 0.7% of Hanson & Doremus Investment Management's investment portfolio, making the stock its 27th biggest holding. Hanson & Doremus Investment Management's holdings in JPMorgan Chase & Co. were worth $4,979,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Florida Financial Advisors LLC grew its stake in JPMorgan Chase & Co. by 62.5% during the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after buying an additional 3,792 shares during the last quarter. Crown Wealth Group LLC grew its stake in JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after buying an additional 222 shares during the last quarter. Mosaic Financial Group LLC grew its stake in JPMorgan Chase & Co. by 0.8% during the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock worth $2,280,000 after buying an additional 78 shares during the last quarter. Morse Asset Management Inc grew its stake in JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after buying an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 4.2% during the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock worth $677,000 after buying an additional 112 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction dated 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 completion of the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Trading Up 0.8%

JPM stock opened at $309.89 on Friday. The company's 50-day simple moving average is $300.67 and its 200-day simple moving average is $274.48. 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. has a 52-week low of $202.16 and a 52-week high of $318.01. The firm has a market cap of $852.11 billion, a P/E ratio of 15.90, a PEG ratio of 2.03 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its 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 business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same period in the prior year, the company posted $6.12 EPS. The company's revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Analysts Set New Price Targets

JPM has been the topic of several research analyst reports. Evercore ISI boosted their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an "outperform" rating in a research note on Tuesday. Bank of America boosted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. The Goldman Sachs Group set a $330.00 target price on JPMorgan Chase & Co. in a research report on Tuesday. Finally, Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $303.45.

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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