JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Bangor Savings Bank

Bangor Savings Bank cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the first quarter, HoldingsChannel.com reports. The fund owned 48,312 shares of the financial services provider’s stock after selling 939 shares during the period. JPMorgan Chase & Co. makes up 1.0% of Bangor Savings Bank’s portfolio, making the stock its 18th largest position. Bangor Savings Bank’s holdings in JPMorgan Chase & Co. were worth $9,677,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $6,016,878,000. International Assets Investment Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $1,017,893,000. Wellington Management Group LLP grew its holdings in shares of JPMorgan Chase & Co. by 12.2% in the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after purchasing an additional 4,603,090 shares during the period. Capital International Investors increased its position in JPMorgan Chase & Co. by 5.4% during the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock worth $7,062,094,000 after purchasing an additional 2,128,478 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in JPMorgan Chase & Co. by 3,836.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock worth $258,377,000 after purchasing an additional 1,480,379 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Down 1.2 %

JPM stock opened at $196.30 on Monday. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $205.88. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $563.71 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 2.67 and a beta of 1.12. The company has a fifty day moving average price of $195.20 and a 200 day moving average price of $184.87.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.45. The business had revenue of $41.93 billion during the quarter, compared to the consensus estimate of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. Sell-side analysts expect that JPMorgan Chase & Co. will post 16.41 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 annualized dividend and a yield of 2.34%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent analyst reports. Morgan Stanley cut their price target on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, May 21st. Royal Bank of Canada reissued an “outperform” rating and set a $211.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Oppenheimer decreased their price target on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research note on Monday, April 15th. 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. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the company a “market perform” rating in a report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $194.10.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $199.54, for a total value of $1,014,860.44. Following the sale, the insider now owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $199.54, for a total value of $1,014,860.44. Following the sale, the insider now owns 212,265 shares in the company, valued at approximately $42,355,358.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Dimon sold 178,222 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the transaction, the chief executive officer now owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The disclosure for this sale can be found here. Insiders sold 250,565 shares of company stock valued at $46,962,717 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

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.