JPMorgan Chase & Co. (NYSE:JPM) Shares Bought by Independence Bank of Kentucky

Independence Bank of Kentucky lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 25.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,017 shares of the financial services provider’s stock after acquiring an additional 9,054 shares during the quarter. JPMorgan Chase & Co. makes up about 2.7% of Independence Bank of Kentucky’s holdings, making the stock its 4th biggest holding. Independence Bank of Kentucky’s holdings in JPMorgan Chase & Co. were worth $9,017,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trust Co of the South boosted its stake in shares of JPMorgan Chase & Co. by 1.1% during the 1st quarter. Trust Co of the South now owns 4,946 shares of the financial services provider’s stock valued at $991,000 after buying an additional 53 shares during the period. PFW Advisors LLC lifted its stake in JPMorgan Chase & Co. by 1.1% in the first quarter. PFW Advisors LLC now owns 5,232 shares of the financial services provider’s stock valued at $1,048,000 after acquiring an additional 55 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. increased its stake in shares of JPMorgan Chase & Co. by 2.0% during the 1st quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,837 shares of the financial services provider’s stock worth $568,000 after purchasing an additional 55 shares during the last quarter. Oarsman Capital Inc. boosted its holdings in JPMorgan Chase & Co. by 0.5% in the fourth quarter. Oarsman Capital Inc. now owns 11,008 shares of the financial services provider’s stock worth $1,872,000 after purchasing an additional 59 shares in the last quarter. Finally, Curbstone Financial Management Corp increased its position in JPMorgan Chase & Co. by 0.3% during the fourth quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock worth $4,070,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM opened at $205.45 on Tuesday. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $207.09. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $589.98 billion, a PE ratio of 12.41, a P/E/G ratio of 2.72 and a beta of 1.12. The company has a fifty day moving average price of $196.91 and a two-hundred day moving average price of $186.28.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. The business had revenue of $41.93 billion for the quarter, compared to the consensus estimate of $40.90 billion. As a group, analysts anticipate that JPMorgan Chase & Co. will post 16.44 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be issued a dividend of $1.15 per share. The ex-dividend date is Friday, July 5th. This represents a $4.60 annualized dividend and a yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.78%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the sale, the general counsel now directly owns 42,124 shares in the company, valued at $8,452,180.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, General Counsel Stacey Friedman sold 4,415 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares in the company, valued at $8,452,180.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the sale, the insider now owns 212,265 shares in the company, valued at approximately $42,355,358.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 250,565 shares of company stock valued at $46,962,717. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on JPM shares. Morgan Stanley cut their price objective on JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 21st. Evercore ISI raised their price target on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. BMO Capital Markets cut their price objective on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a research report on Monday, April 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $211.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Finally, Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $203.00 to $209.00 and gave the company a “market perform” rating in a research report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.10.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.