Iowa State Bank Sells 5,094 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Iowa State Bank lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,783 shares of the financial services provider's stock after selling 5,094 shares during the period. JPMorgan Chase & Co. accounts for about 3.5% of Iowa State Bank's investment portfolio, making the stock its 5th biggest holding. Iowa State Bank's holdings in JPMorgan Chase & Co. were worth $16,627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of JPM. Redwood Park Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $29,000. Sellwood Investment Partners LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $34,000. Investment Counsel Co. of Nevada purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $37,000. Midwest Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity

In other news, General Counsel Stacey Friedman sold 2,821 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the sale, the general counsel now directly owns 68,757 shares in the company, valued at $18,269,422.47. This trade represents a 3.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Piepszak sold 6,129 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the transaction, the chief operating officer now owns 68,583 shares of the company's stock, valued at $17,197,873.08. This represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,594 shares of company stock worth $23,991,061 in the last ninety days. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock traded up $0.46 on Monday, hitting $264.46. The company had a trading volume of 6,008,253 shares, compared to its average volume of 9,550,450. The firm has a market cap of $734.96 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. The company has a 50-day moving average price of $245.86 and a 200-day moving average price of $249.24. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a twelve month low of $190.88 and a twelve month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same period last year, the firm earned $4.44 EPS. The company's quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Analysts Set New Price Targets

Several analysts have recently commented on JPM shares. Morgan Stanley reiterated an "equal weight" rating on shares of JPMorgan Chase & Co. in a report on Monday. KGI Securities started coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating for the company. Bank of America reduced their target price on JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Truist Financial raised their target price on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a "hold" rating in a research note on Monday. Finally, UBS Group raised their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $267.15.

JPMorgan Chase & Co. 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.