Busey Bank Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Busey Bank grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 239,716 shares of the financial services provider’s stock after acquiring an additional 3,554 shares during the period. JPMorgan Chase & Co. comprises about 1.7% of Busey Bank’s investment portfolio, making the stock its 12th biggest holding. Busey Bank’s holdings in JPMorgan Chase & Co. were worth $48,485,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Wellington Wealth Strategies LLC. bought a new position in JPMorgan Chase & Co. in the fourth quarter worth about $1,145,000. Cooper Financial Group raised its holdings in shares of JPMorgan Chase & Co. by 12.8% during the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after buying an additional 984 shares during the last quarter. Spartan Planning & Wealth Management raised its holdings in shares of JPMorgan Chase & Co. by 257.3% during the fourth quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after buying an additional 2,722 shares during the last quarter. jvl associates llc raised its holdings in shares of JPMorgan Chase & Co. by 59.8% during the first quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after buying an additional 715 shares during the last quarter. Finally, MMA Asset Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $207,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 0.6 %

Shares of JPM stock traded up $1.19 during trading hours on Thursday, hitting $215.79. 1,524,612 shares of the company were exchanged, compared to its average volume of 9,107,368. The business has a 50 day moving average of $205.85 and a two-hundred day moving average of $196.41. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $217.56. The company has a market capitalization of $619.68 billion, a PE ratio of 11.99, a PEG ratio of 2.42 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter in the prior year, the business posted $4.37 EPS. Analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the sale, the insider now directly owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on JPM shares. Robert W. Baird raised their price objective on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Oppenheimer lifted their price target on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, Jefferies Financial Group raised their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.71.

JPMorgan Chase & Co. Company Profile

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.