JPMorgan Chase & Co. (NYSE:JPM) Position Cut by First Citizens Financial Corp

First Citizens Financial Corp lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,491 shares of the financial services provider’s stock after selling 70 shares during the quarter. JPMorgan Chase & Co. comprises about 1.2% of First Citizens Financial Corp’s portfolio, making the stock its 24th biggest holding. First Citizens Financial Corp’s holdings in JPMorgan Chase & Co. were worth $2,212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in JPM. Exencial Wealth Advisors LLC lifted its stake in JPMorgan Chase & Co. by 3.4% during the fourth quarter. Exencial Wealth Advisors LLC now owns 29,767 shares of the financial services provider’s stock valued at $5,063,000 after buying an additional 978 shares in the last quarter. Beacon Investment Advisors LLC grew its stake in JPMorgan Chase & Co. by 7.0% in the 4th quarter. Beacon Investment Advisors LLC now owns 2,089 shares of the financial services provider’s stock valued at $355,000 after buying an additional 136 shares during the last quarter. Prudential PLC grew its stake in shares of JPMorgan Chase & Co. by 45.0% in the fourth quarter. Prudential PLC now owns 236,451 shares of the financial services provider’s stock worth $40,220,000 after acquiring an additional 73,389 shares during the last quarter. Schroder Investment Management Group increased its position in shares of JPMorgan Chase & Co. by 2.5% during the fourth quarter. Schroder Investment Management Group now owns 5,104,331 shares of the financial services provider’s stock valued at $868,247,000 after purchasing an additional 124,811 shares during the period. Finally, Wealth Quarterback LLC boosted its holdings in JPMorgan Chase & Co. by 48.2% during the fourth quarter. Wealth Quarterback LLC now owns 3,101 shares of the financial services provider’s stock valued at $528,000 after purchasing an additional 1,009 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.0 %

Shares of NYSE:JPM opened at $205.17 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock has a market cap of $589.18 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 2.39 and a beta of 1.11. The business’s 50 day moving average is $211.32 and its 200 day moving average is $202.90. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the prior year, the firm earned $4.37 earnings per share. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

Analysts Set New Price Targets

JPM has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Oppenheimer raised their price target on shares of JPMorgan Chase & Co. from $221.00 to $234.00 and gave the stock an “outperform” rating in a research note on Wednesday. Piper Sandler raised their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Finally, BMO Capital Markets boosted their price target on 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. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $212.13.

About JPMorgan Chase & Co.

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.