Busey Bank Sells 3,351 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Busey Bank trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 236,365 shares of the financial services provider’s stock after selling 3,351 shares during the quarter. JPMorgan Chase & Co. makes up 1.6% of Busey Bank’s investment portfolio, making the stock its 12th largest position. Busey Bank’s holdings in JPMorgan Chase & Co. were worth $49,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of JPM. Retirement Group LLC raised its stake 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 acquiring an additional 109 shares during the last quarter. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter valued at approximately $32,000. Richardson Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $34,000. Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $34,000. Finally, Davidson Capital Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Down 1.2 %

NYSE:JPM opened at $222.31 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $638.40 billion, a P/E ratio of 12.40, a P/E/G ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.92. The firm has a 50-day simple moving average of $215.39 and a two-hundred day simple moving average of $205.52.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data 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. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.33 EPS. Analysts predict that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared 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 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 dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Evercore ISI raised their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, Piper Sandler increased their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. 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.