Chemung Canal Trust Co. Sells 12,757 Shares of JPMorgan Chase & Co. $JPM

Chemung Canal Trust Co. decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 27.4% in the 2nd quarter, Holdings Channel reports. The fund owned 33,773 shares of the financial services provider’s stock after selling 12,757 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.1% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 12th biggest position. Chemung Canal Trust Co.’s holdings in JPMorgan Chase & Co. were worth $9,791,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Florida Financial Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 62.5% during the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after purchasing an additional 3,792 shares during the last quarter. Crown Wealth Group LLC boosted its holdings in JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after purchasing an additional 222 shares during the last quarter. Mosaic Financial Group LLC boosted its holdings in JPMorgan Chase & Co. by 0.8% during the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after purchasing an additional 78 shares during the last quarter. Morse Asset Management Inc boosted its holdings in JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after purchasing an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock worth $677,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the subject of several recent research reports. Daiwa Capital Markets increased their target price on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a report on Friday. Weiss Ratings restated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 8th. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Finally, Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target for the company. in a research note on Friday, June 27th. Fifteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $316.00.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $301.12 on Monday. The stock has a market cap of $828.00 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.94 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The company has a fifty day moving average price of $301.61 and a two-hundred day moving average price of $276.98. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm earned $6.12 earnings per share. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is currently 30.79%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.