Penobscot Wealth Management Has $291,000 Stake in JPMorgan Chase & Co. (NYSE:JPM)

Penobscot Wealth Management increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 37.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,378 shares of the financial services provider’s stock after purchasing an additional 373 shares during the quarter. Penobscot Wealth Management’s holdings in JPMorgan Chase & Co. were worth $291,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BCGM Wealth Management LLC lifted its stake in JPMorgan Chase & Co. by 2.8% in the first quarter. BCGM Wealth Management LLC now owns 19,061 shares of the financial services provider’s stock valued at $3,818,000 after acquiring an additional 516 shares during the last quarter. Accredited Investors Inc. raised its stake in shares of JPMorgan Chase & Co. by 4.9% in the 2nd quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after acquiring an additional 667 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in JPMorgan Chase & Co. by 1.4% in the 1st quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider’s stock worth $17,439,000 after purchasing an additional 1,173 shares during the last quarter. Sunburst Financial Group LLC boosted its position in JPMorgan Chase & Co. by 5.0% during the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after purchasing an additional 268 shares during the period. Finally, Sageworth Trust Co boosted its holdings in shares of JPMorgan Chase & Co. by 37.9% during the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after buying an additional 786 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 1.4 %

Shares of JPM opened at $219.78 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.91 and a current ratio of 0.89. The company has a market cap of $618.76 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 3.24 and a beta of 1.10. The stock has a fifty day moving average price of $216.17 and a two-hundred day moving average price of $207.18. JPMorgan Chase & Co. has a 52-week low of $142.79 and a 52-week high of $226.75.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the previous year, the firm posted $4.33 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. Analysts predict that JPMorgan Chase & Co. will post 17.52 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.28%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Citigroup boosted their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. BMO Capital Markets raised their price target on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $222.81.

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.