Orrstown Financial Services Inc. Acquires 4,576 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Orrstown Financial Services Inc. lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 69.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 11,143 shares of the financial services provider’s stock after buying an additional 4,576 shares during the quarter. JPMorgan Chase & Co. makes up about 0.7% of Orrstown Financial Services Inc.’s holdings, making the stock its 23rd biggest holding. Orrstown Financial Services Inc.’s holdings in JPMorgan Chase & Co. were worth $2,350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of JPM. Henrickson Nauta Wealth Advisors Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 1.3% in the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock worth $725,000 after acquiring an additional 45 shares during the last quarter. West Wealth Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 3.6% in the third quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 46 shares during the last quarter. Instrumental Wealth LLC lifted its holdings in shares of JPMorgan Chase & Co. by 4.5% in the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after acquiring an additional 47 shares during the last quarter. Gemmer Asset Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.6% in the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after acquiring an additional 48 shares during the last quarter. Finally, Great Point Wealth Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.9% in the second quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock worth $1,151,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $221.92 on Friday. The company has a market cap of $631.40 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 52 week low of $137.47 and a 52 week high of $226.75. 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 firm has a 50 day moving average of $216.06 and a 200-day moving average of $206.26.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter last year, the firm posted $4.33 EPS. JPMorgan Chase & Co.’s revenue was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.25%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Oppenheimer dropped their target price on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Royal Bank of Canada raised their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Citigroup raised their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Finally, BMO Capital Markets raised their price target on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

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.