Stock Yards Bank & Trust Co. Increases Stake in JPMorgan Chase & Co. $JPM

Stock Yards Bank & Trust Co. boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 361,583 shares of the financial services provider’s stock after acquiring an additional 5,264 shares during the period. JPMorgan Chase & Co. accounts for 3.5% of Stock Yards Bank & Trust Co.’s portfolio, making the stock its 3rd biggest position. Stock Yards Bank & Trust Co.’s holdings in JPMorgan Chase & Co. were worth $104,826,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $28,000. University of Illinois Foundation acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Ryan Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $37,000. Christopher J. Hasenberg Inc grew its position in shares of JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after buying an additional 106 shares during the period. Finally, Goodman Advisory Group LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth $76,000. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JPM. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Truist Financial raised their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research report on Tuesday, September 23rd. Bank of America lifted their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. The Goldman Sachs Group lifted their price objective on JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a report on Tuesday, September 30th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $313.89.

JPMorgan Chase & Co. Stock Up 0.4%

JPM stock opened at $305.35 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $839.64 billion, a PE ratio of 15.67, a PEG ratio of 1.96 and a beta of 1.13. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The stock has a 50-day simple moving average of $301.37 and a two-hundred day simple moving average of $276.26.

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

JPMorgan Chase & Co. Increases Dividend

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

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.47% of the company’s stock.

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.