JPMorgan Chase & Co. (NYSE:JPM) Position Trimmed by Heartland Bank & Trust Co

Heartland Bank & Trust Co cut its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 23.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,956 shares of the financial services provider's stock after selling 4,385 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.8% of Heartland Bank & Trust Co's portfolio, making the stock its 10th largest holding. Heartland Bank & Trust Co's holdings in JPMorgan Chase & Co. were worth $3,423,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Redwood Park Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $29,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Sellwood Investment Partners LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $37,000. Finally, Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on JPM shares. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 10th. Morgan Stanley raised their target price on shares of JPMorgan Chase & Co. from $236.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Monday. Robert W. Baird raised their target price on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price on the stock. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $271.90.

JPMorgan Chase & Co. Stock Up 1.0%

Shares of NYSE JPM opened at $281.18 on Wednesday. The firm has a market cap of $781.42 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 2.59 and a beta of 1.08. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $282.72. The business's 50 day moving average is $258.21 and its two-hundred day moving average is $251.92.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. The company had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.44 earnings per share. Research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer now owns 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the director now owns 91,539 shares of the company's stock, valued at approximately $22,884,750. This trade represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock worth $18,060,015 over the last 90 days. Corporate insiders own 0.47% of the company's stock.

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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