JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by First County Bank CT

First County Bank CT decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,582 shares of the financial services provider’s stock after selling 893 shares during the period. JPMorgan Chase & Co. makes up about 1.2% of First County Bank CT’s investment portfolio, making the stock its 18th largest position. First County Bank CT’s holdings in JPMorgan Chase & Co. were worth $2,343,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Retirement Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares during the last quarter. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at $32,000. Richardson Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at $34,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at $34,000. Finally, Davidson Capital Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $210.40 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48. The stock’s 50-day moving average is $211.47 and its two-hundred day moving average is $202.41. The firm has a market cap of $598.62 billion, a P/E ratio of 11.73, a PEG ratio of 2.39 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same period in the prior year, the firm posted $4.37 EPS. Analysts predict 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. Stockholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.38%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

Analysts Set New Price Targets

JPM has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Jefferies Financial Group upped their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Barclays increased their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Piper Sandler increased their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.06.

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.