OLD National Bancorp IN Increases Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• OLD National Bancorp IN increased its stake in JPMorgan Chase & Co. by 10.9% during the 2nd quarter, now holding over 105,000 shares valued at approximately $30.4 million.
• JPMorgan Chase & Co. recently declared a quarterly dividend increase from $1.40 to $1.50, with a yield of 2.0% and a payout ratio of 30.79%.
• Analysts have set a range of price targets for JPMorgan Chase & Co., with the overall stock rating being a "Hold" and a collective price target averaging around $316.00.

OLD National Bancorp IN lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,023 shares of the financial services provider's stock after acquiring an additional 10,336 shares during the quarter. JPMorgan Chase & Co. accounts for about 0.5% of OLD National Bancorp IN's holdings, making the stock its 25th biggest position. OLD National Bancorp IN's holdings in JPMorgan Chase & Co. were worth $30,447,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Olistico Wealth LLC boosted its stake in shares of JPMorgan Chase & Co. by 11.1% during the 2nd quarter. Olistico Wealth LLC now owns 5,987 shares of the financial services provider's stock worth $1,736,000 after acquiring an additional 600 shares in the last quarter. Capital City Trust Co. FL boosted its stake in shares of JPMorgan Chase & Co. by 7.1% during the 2nd quarter. Capital City Trust Co. FL now owns 18,336 shares of the financial services provider's stock worth $5,316,000 after acquiring an additional 1,213 shares in the last quarter. Sutton Place Investors LLC boosted its stake in shares of JPMorgan Chase & Co. by 7.8% during the 2nd quarter. Sutton Place Investors LLC now owns 7,064 shares of the financial services provider's stock worth $2,048,000 after acquiring an additional 514 shares in the last quarter. Realta Investment Advisors boosted its stake in shares of JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Realta Investment Advisors now owns 6,064 shares of the financial services provider's stock worth $1,758,000 after acquiring an additional 91 shares in the last quarter. Finally, Wealthcare Capital Partners LLC boosted its stake in shares of JPMorgan Chase & Co. by 5.0% during the 2nd quarter. Wealthcare Capital Partners LLC now owns 3,655 shares of the financial services provider's stock worth $1,060,000 after acquiring an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Daiwa Capital Markets boosted their price target on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 8th. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. The Goldman Sachs Group boosted their price target on JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, October 3rd. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Finally, Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research report on Friday, June 27th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Hold" and an average price target of $316.00.

JPMorgan Chase & Co. Trading Down 1.4%

Shares of JPM opened at $301.12 on Monday. The stock has a fifty day moving average of $301.61 and a two-hundred day moving average of $276.98. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $828.00 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.JPMorgan Chase & Co.'s revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $6.12 EPS. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a $1.50 dividend. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is presently 30.79%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction on 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 transaction, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.47% of the company's stock.

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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