Hilltop National Bank Acquires New Stake in JPMorgan Chase & Co. $JPM

Key Points

• Hilltop National Bank has acquired a new stake in JPMorgan Chase & Co., purchasing 10,422 shares valued at approximately $3.02 million, making it the bank's 27th largest position.
• Several institutional investors, including Kingstone Capital Partners and Bank of New York Mellon, significantly increased their holdings in JPMorgan Chase, demonstrating strong institutional interest.
• JPMorgan Chase has recently announced a quarterly dividend increase from $1.40 to $1.50, with an annualized yield of 2.0% and a payout ratio of 30.79%.

Hilltop National Bank acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,422 shares of the financial services provider's stock, valued at approximately $3,021,000. JPMorgan Chase & Co. accounts for 0.8% of Hilltop National Bank's investment portfolio, making the stock its 27th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC lifted its position in shares of JPMorgan Chase & Co. by 609,867.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock worth $21,133,630,000 after buying an additional 72,885,260 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of JPMorgan Chase & Co. by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after buying an additional 454,226 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of JPMorgan Chase & Co. by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after buying an additional 548,853 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of JPMorgan Chase & Co. by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock worth $4,523,588,000 after buying an additional 890,553 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $3,972,807,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, September 2nd. The stock was 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 directly 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $305.35 on Friday. The company has a market cap of $839.64 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The company has a 50-day moving average price of $301.37 and a 200-day moving average price of $276.26. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01.

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 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the prior year, the firm earned $6.12 earnings per share. JPMorgan Chase & Co.'s revenue was down 10.5% on a year-over-year basis. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a $1.50 dividend. This is a boost 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 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is currently 30.79%.

Analyst Ratings Changes

JPM has been the subject of several research analyst reports. Weiss Ratings restated a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday. Evercore ISI raised their price target on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 30th. The Goldman Sachs Group raised their price target on shares of JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, October 3rd. Bank of America raised their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, TD Cowen raised their price target on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a "buy" rating in a research note on Friday, October 3rd. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $313.89.

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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