Independence Bank of Kentucky Sells 277 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Independence Bank of Kentucky reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 27,636 shares of the financial services provider’s stock after selling 277 shares during the period. JPMorgan Chase & Co. makes up about 1.7% of Independence Bank of Kentucky’s portfolio, making the stock its 10th biggest position. Independence Bank of Kentucky’s holdings in JPMorgan Chase & Co. were worth $3,706,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Aptus Capital Advisors LLC lifted its stake in JPMorgan Chase & Co. by 11.3% in the third quarter. Aptus Capital Advisors LLC now owns 153,622 shares of the financial services provider’s stock valued at $16,054,000 after buying an additional 15,607 shares during the period. Leisure Capital Management grew its holdings in shares of JPMorgan Chase & Co. by 2.7% during the third quarter. Leisure Capital Management now owns 22,736 shares of the financial services provider’s stock valued at $2,376,000 after buying an additional 600 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of JPMorgan Chase & Co. by 12.4% during the third quarter. Ballentine Partners LLC now owns 51,929 shares of the financial services provider’s stock valued at $5,427,000 after buying an additional 5,719 shares during the last quarter. BerganKDV Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 6.1% during the third quarter. BerganKDV Wealth Management LLC now owns 35,995 shares of the financial services provider’s stock valued at $3,762,000 after buying an additional 2,079 shares during the last quarter. Finally, Busey Wealth Management grew its holdings in shares of JPMorgan Chase & Co. by 1.4% during the third quarter. Busey Wealth Management now owns 242,758 shares of the financial services provider’s stock valued at $25,369,000 after buying an additional 3,357 shares during the last quarter. 67.89% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $125.81 on Friday. The stock’s 50 day simple moving average is $139.06 and its two-hundred day simple moving average is $129.21. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $370.30 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 2.09 and a beta of 1.12. JPMorgan Chase & Co. has a fifty-two week low of $101.28 and a fifty-two week high of $144.34.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.46. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The firm had revenue of $34.55 billion during the quarter, compared to analyst estimates of $34.23 billion. During the same period last year, the business earned $3.33 earnings per share. The business’s revenue was up 18.1% on a year-over-year basis. As a group, analysts expect that JPMorgan Chase & Co. will post 12.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Mary E. Erdoes sold 10,340 shares of the business’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.29, for a total transaction of $1,450,598.60. Following the completion of the sale, the chief executive officer now owns 544,136 shares of the company’s stock, valued at approximately $76,336,839.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Vice Chairman Peter Scher sold 4,399 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $140.32, for a total transaction of $617,267.68. Following the transaction, the insider now directly owns 36,369 shares of the company’s stock, valued at approximately $5,103,298.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mary E. Erdoes sold 10,340 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $140.29, for a total value of $1,450,598.60. Following the transaction, the chief executive officer now directly owns 544,136 shares in the company, valued at $76,336,839.44. The disclosure for this sale can be found here. Insiders sold a total of 37,887 shares of company stock worth $5,315,762 in the last three months. Insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of JPMorgan Chase & Co. from $167.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday, February 24th. UBS Group set a $156.00 price objective on shares of JPMorgan Chase & Co. in a research report on Friday, January 13th. Deutsche Bank Aktiengesellschaft lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $155.00 to $145.00 in a research report on Friday, January 6th. Wells Fargo & Company raised shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $148.00 to $155.00 in a research note on Monday, March 13th. Finally, Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a research note on Tuesday, January 3rd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.78.

About JPMorgan Chase & Co.

(Get Rating)

JPMorgan Chase & Co is a financial holding company, which engages in providing 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.