Montecito Bank & Trust Has $6.87 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Montecito Bank & Trust lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the fourth quarter, Holdings Channel reports. The fund owned 28,653 shares of the financial services provider’s stock after selling 103 shares during the quarter. JPMorgan Chase & Co. makes up 1.2% of Montecito Bank & Trust’s holdings, making the stock its 19th largest holding. Montecito Bank & Trust’s holdings in JPMorgan Chase & Co. were worth $6,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the company. Quarry LP grew its position in JPMorgan Chase & Co. by 1,062.1% during the second quarter. Quarry LP now owns 337 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 308 shares in the last quarter. Truist Financial Corp grew its position in JPMorgan Chase & Co. by 0.4% during the second quarter. Truist Financial Corp now owns 2,877,893 shares of the financial services provider’s stock valued at $582,083,000 after purchasing an additional 11,242 shares in the last quarter. Advisory Alpha LLC grew its position in JPMorgan Chase & Co. by 11.1% during the second quarter. Advisory Alpha LLC now owns 11,152 shares of the financial services provider’s stock valued at $2,256,000 after purchasing an additional 1,112 shares in the last quarter. Granite Bay Wealth Management LLC grew its position in JPMorgan Chase & Co. by 4.7% during the second quarter. Granite Bay Wealth Management LLC now owns 23,429 shares of the financial services provider’s stock valued at $4,739,000 after purchasing an additional 1,051 shares in the last quarter. Finally, SPC Financial Inc. grew its position in JPMorgan Chase & Co. by 4.8% during the second quarter. SPC Financial Inc. now owns 36,912 shares of the financial services provider’s stock valued at $7,466,000 after purchasing an additional 1,693 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the transaction, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on JPM shares. Royal Bank of Canada boosted their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. UBS Group boosted their target price 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. Truist Financial boosted their target price on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Wolfe Research raised shares of 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 report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $251.78.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $266.94 on Wednesday. The stock has a market cap of $751.53 billion, a P/E ratio of 13.52, a PEG ratio of 2.83 and a beta of 1.11. JPMorgan Chase & Co. has a one year low of $171.30 and a one year high of $267.33. The company has a fifty day moving average price of $246.08 and a 200 day moving average price of $226.92. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.04 EPS. Analysts anticipate that JPMorgan Chase & Co. will post 17.82 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is currently 25.33%.

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.