JPMorgan Chase & Co. $JPM is BankPlus Trust Department's 10th Largest Position

Key Points

• BankPlus Trust Department has increased its holdings in JPMorgan Chase & Co. by 10.8%, making it the 10th largest position in their portfolio, valued at approximately $4.24 million.
• JPMorgan Chase's recent earnings report showed $5.07 earnings per share, surpassing analysts' expectations and contributing to an 8.8% year-over-year revenue growth.
• The company announced a quarterly dividend of $1.50 per share, up from $1.40, with a yield of 2.0%, reflecting its solid financial performance.

BankPlus Trust Department raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,627 shares of the financial services provider's stock after buying an additional 1,430 shares during the quarter. JPMorgan Chase & Co. comprises 1.3% of BankPlus Trust Department's portfolio, making the stock its 10th biggest holding. BankPlus Trust Department's holdings in JPMorgan Chase & Co. were worth $4,241,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Florida Financial Advisors LLC grew its holdings 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 valued at $2,416,000 after buying an additional 3,792 shares in the last quarter. Crown Wealth Group LLC grew its holdings 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 valued at $1,060,000 after buying an additional 222 shares in the last quarter. Mosaic Financial Group LLC grew its holdings 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 valued at $2,280,000 after buying an additional 78 shares in the last quarter. Morse Asset Management Inc grew its holdings 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 valued at $630,000 after buying an additional 420 shares in the last quarter. Finally, Hidden Cove Wealth Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 4.2% in the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock worth $677,000 after purchasing an additional 112 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 1.3%

Shares of NYSE JPM opened at $305.94 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The business has a fifty day simple moving average of $302.40 and a two-hundred day simple moving average of $277.80. The firm has a market cap of $841.24 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts' consensus estimates of $4.83 by $0.24. The business had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.JPMorgan Chase & Co.'s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.37 EPS. Analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio is presently 30.79%.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of recent research reports. Barclays lifted their target price on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an "overweight" rating in a report on Wednesday. Citigroup lifted their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an "outperform" rating in a report on Friday, October 10th. DZ Bank reiterated a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Wednesday. Finally, Truist Financial lifted their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a report on Tuesday, September 23rd. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $319.40.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction 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 sale, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by company insiders.

About JPMorgan Chase & Co.

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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