SeaBridge Investment Advisors LLC Increases Holdings in JPMorgan Chase & Co. $JPM

Key Points

• SeaBridge Investment Advisors LLC increased its holdings in JPMorgan Chase & Co. by 2.9%, owning 28,873 shares valued at $8,371,000.
• JPMorgan Chase recently announced a quarterly dividend of $1.50 per share, up from $1.40, indicating a positive outlook and a 1.9% dividend yield.
• Analysts have set a target price for JPMorgan Chase, with Bank of America raising it from $330.00 to $340.00 and maintaining a "buy" rating.

SeaBridge Investment Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,873 shares of the financial services provider's stock after buying an additional 818 shares during the period. JPMorgan Chase & Co. accounts for about 1.6% of SeaBridge Investment Advisors LLC's holdings, making the stock its 15th largest holding. SeaBridge Investment Advisors LLC's holdings in JPMorgan Chase & Co. were worth $8,371,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Western Financial Corp CA lifted its holdings in JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider's stock worth $766,000 after buying an additional 38 shares during the last quarter. TOWER TRUST & INVESTMENT Co lifted its holdings in shares of JPMorgan Chase & Co. by 1.9% in the 2nd quarter. TOWER TRUST & INVESTMENT Co now owns 15,870 shares of the financial services provider's stock valued at $4,601,000 after purchasing an additional 301 shares during the last quarter. Signature Resources Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 33.1% in the 2nd quarter. Signature Resources Capital Management LLC now owns 631 shares of the financial services provider's stock valued at $183,000 after purchasing an additional 157 shares during the last quarter. Prairiewood Capital LLC lifted its holdings in shares of JPMorgan Chase & Co. by 6.1% in the 2nd quarter. Prairiewood Capital LLC now owns 1,181 shares of the financial services provider's stock valued at $342,000 after purchasing an additional 68 shares during the last quarter. Finally, Kiley Juergens Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.5% in the 2nd quarter. Kiley Juergens Wealth Management LLC now owns 14,477 shares of the financial services provider's stock valued at $4,197,000 after purchasing an additional 75 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on JPM shares. The Goldman Sachs Group set a $330.00 target price on JPMorgan Chase & Co. in a report on Tuesday. Bank of America boosted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Truist Financial upped their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a research note on Tuesday, September 23rd. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $303.45.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $310.82 on Thursday. The company has a market cap of $854.68 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. The stock has a 50 day simple moving average of $300.22 and a 200-day simple moving average of $273.45. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The business 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%.The company's revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $6.12 EPS. On average, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. This is a positive change 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 dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred 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 sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.