JPMorgan Chase & Co. (NYSE:JPM) is Penobscot Investment Management Company Inc.'s 4th Largest Position

Penobscot Investment Management Company Inc. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,175 shares of the financial services provider's stock after buying an additional 2,949 shares during the period. JPMorgan Chase & Co. accounts for approximately 3.2% of Penobscot Investment Management Company Inc.'s portfolio, making the stock its 4th largest holding. Penobscot Investment Management Company Inc.'s holdings in JPMorgan Chase & Co. were worth $33,649,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Flavin Financial Services Inc. grew its stake in JPMorgan Chase & Co. by 3.2% in the 1st quarter. Flavin Financial Services Inc. now owns 15,389 shares of the financial services provider's stock worth $3,775,000 after buying an additional 482 shares in the last quarter. Western Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 3.1% during the first quarter. Western Wealth Management LLC now owns 36,278 shares of the financial services provider's stock valued at $8,899,000 after buying an additional 1,095 shares during the last quarter. Nova R Wealth Inc. grew its position in JPMorgan Chase & Co. by 17.1% during the 1st quarter. Nova R Wealth Inc. now owns 1,705 shares of the financial services provider's stock worth $418,000 after acquiring an additional 249 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 19.2% in the first quarter. Sequoia Financial Advisors LLC now owns 348,688 shares of the financial services provider's stock worth $85,533,000 after purchasing an additional 56,110 shares during the last quarter. Finally, Kavar Capital Partners Group LLC grew its holdings in JPMorgan Chase & Co. by 2.2% in the 1st quarter. Kavar Capital Partners Group LLC now owns 43,132 shares of the financial services provider's stock worth $10,580,000 after acquiring an additional 915 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer Piepszak sold 6,129 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total value of $1,536,908.04. Following the completion of the transaction, the chief operating officer directly owned 68,583 shares in the company, valued at $17,197,873.08. The trade was a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 over the last 90 days. 0.47% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a report on Friday, June 27th. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. Truist Financial increased 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, June 2nd. Finally, TD Cowen assumed coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $273.15.

JPMorgan Chase & Co. Stock Performance

JPM traded up $1.55 during midday trading on Wednesday, hitting $291.96. 1,506,394 shares of the company traded hands, compared to its average volume of 9,491,845. The company's 50-day moving average is $263.87 and its 200 day moving average is $253.51. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $811.38 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $293.01.

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

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.92%. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.

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.