JPMorgan Chase & Co. $JPM Stake Lifted by Citizens National Bank Trust Department

Key Points

• Citizens National Bank Trust Department increased its stake in JPMorgan Chase & Co. by 3.7% during Q2, owning 40,731 shares valued at $11.8 million, making it the 7th largest position in their portfolio.
• Several hedge funds, including Pure Portfolios Holdings LLC and Abel Hall LLC, also boosted their holdings in JPMorgan during the same quarter, reflecting increasing institutional confidence in the stock.
• JPMorgan Chase recently increased its quarterly dividend from $1.40 to $1.50, which represents an annualized yield of 2.0% and will be paid to shareholders on October 31st.

Citizens National Bank Trust Department raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,731 shares of the financial services provider's stock after acquiring an additional 1,450 shares during the quarter. JPMorgan Chase & Co. makes up 2.4% of Citizens National Bank Trust Department's holdings, making the stock its 7th biggest position. Citizens National Bank Trust Department's holdings in JPMorgan Chase & Co. were worth $11,808,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pure Portfolios Holdings LLC boosted its stake in JPMorgan Chase & Co. by 16.6% in the second quarter. Pure Portfolios Holdings LLC now owns 1,470 shares of the financial services provider's stock valued at $426,000 after acquiring an additional 209 shares during the last quarter. Abel Hall LLC boosted its stake in JPMorgan Chase & Co. by 39.9% in the second quarter. Abel Hall LLC now owns 5,435 shares of the financial services provider's stock valued at $1,576,000 after acquiring an additional 1,551 shares during the last quarter. Triasima Portfolio Management inc. boosted its stake in JPMorgan Chase & Co. by 16.3% in the second quarter. Triasima Portfolio Management inc. now owns 27,154 shares of the financial services provider's stock valued at $7,872,000 after acquiring an additional 3,796 shares during the last quarter. Proffitt & Goodson Inc. boosted its stake in JPMorgan Chase & Co. by 1.6% in the second quarter. Proffitt & Goodson Inc. now owns 7,911 shares of the financial services provider's stock valued at $2,293,000 after acquiring an additional 124 shares during the last quarter. Finally, REAP Financial Group LLC boosted its stake in JPMorgan Chase & Co. by 94.1% in the second quarter. REAP Financial Group LLC now owns 1,786 shares of the financial services provider's stock valued at $518,000 after acquiring an additional 866 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a "hold" rating in a research note on Tuesday, September 30th. Truist Financial upped their price target on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a research note on Tuesday, September 23rd. Daiwa Capital Markets upped their price target on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an "outperform" rating in a research note on Wednesday, October 8th. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Finally, UBS Group upped their price target on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $319.40.

Insider Transactions at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $305.94 on Thursday. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The stock has a market capitalization of $841.24 billion, a PE ratio of 15.15, a P/E/G ratio of 1.94 and a beta of 1.13. The company's 50 day simple moving average is $302.40 and its two-hundred day simple moving average is $277.80.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $46.43 billion for the quarter, compared to analysts' expectations of $44.42 billion. During the same period in the prior year, the company posted $4.37 EPS. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts predict 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 paid a $1.50 dividend. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio is currently 30.79%.

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.

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