1ST Source Bank Has $17.07 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

1ST Source Bank lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,194 shares of the financial services provider's stock after selling 1,140 shares during the quarter. JPMorgan Chase & Co. comprises about 1.0% of 1ST Source Bank's investment portfolio, making the stock its 18th largest position. 1ST Source Bank's holdings in JPMorgan Chase & Co. were worth $17,066,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Principal Financial Group Inc. increased its position in JPMorgan Chase & Co. by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider's stock valued at $1,228,110,000 after acquiring an additional 182,648 shares in the last quarter. United Bank grew its stake in shares of JPMorgan Chase & Co. by 2.5% during the third quarter. United Bank now owns 25,354 shares of the financial services provider's stock valued at $5,346,000 after purchasing an additional 614 shares during the last quarter. Portfolio Design Labs LLC increased its holdings in shares of JPMorgan Chase & Co. by 78.1% in the third quarter. Portfolio Design Labs LLC now owns 18,196 shares of the financial services provider's stock valued at $3,837,000 after purchasing an additional 7,979 shares in the last quarter. Bellwether Advisors LLC bought a new position in JPMorgan Chase & Co. in the 3rd quarter worth approximately $218,000. Finally, Altman Advisors Inc. bought a new position in JPMorgan Chase & Co. in the 3rd quarter worth approximately $1,891,000. Institutional investors own 71.55% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent research reports. Wolfe Research raised JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 target price for the company in a research note on Friday, January 3rd. Truist Financial raised their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a "hold" rating in a report on Thursday, January 16th. Robert W. Baird raised JPMorgan Chase & Co. from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Keefe, Bruyette & Woods upped their target price on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a "market perform" rating in a research report on Thursday, January 16th. Finally, UBS Group lifted their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $252.89.

JPMorgan Chase & Co. Trading Down 1.1 %

JPM stock traded down $2.68 during midday trading on Thursday, hitting $248.35. 8,014,093 shares of the company's stock were exchanged, compared to its average volume of 8,885,654. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company has a market cap of $694.41 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The stock's fifty day moving average price is $257.88 and its 200-day moving average price is $240.12.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $42.77 billion for the quarter, compared to analysts' expectations of $41.90 billion. During the same quarter in the previous year, the business posted $3.04 EPS. JPMorgan Chase & Co.'s revenue for the quarter was up 10.9% on a year-over-year basis. Research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, April 4th. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. JPMorgan Chase & Co.'s dividend payout ratio is 28.37%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now owns 54,469 shares of the company's stock, valued at $14,698,459.65. This trade represents a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the transaction, the insider now directly owns 50,377 shares of the company's stock, valued at $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,848 shares of company stock valued at $19,987,908 over the last quarter. Corporate insiders own 0.79% of the company's stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.