JPMorgan Chase & Co. (NYSE:JPM) is Independence Bank of Kentucky’s 6th Largest Position

Independence Bank of Kentucky increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 8.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,342 shares of the financial services provider’s stock after buying an additional 4,121 shares during the period. JPMorgan Chase & Co. comprises approximately 2.3% of Independence Bank of Kentucky’s investment portfolio, making the stock its 6th biggest holding. Independence Bank of Kentucky’s holdings in JPMorgan Chase & Co. were worth $10,826,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of JPM. Instrumental Wealth LLC lifted its holdings in JPMorgan Chase & Co. by 4.5% in the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after buying an additional 47 shares in the last quarter. Gemmer Asset Management LLC lifted its stake in JPMorgan Chase & Co. by 1.6% during the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock valued at $634,000 after purchasing an additional 48 shares during the last quarter. Great Point Wealth Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 0.9% in the 2nd quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock valued at $1,151,000 after acquiring an additional 48 shares in the last quarter. Waller Financial Planning Group Inc. increased its stake in JPMorgan Chase & Co. by 1.7% in the 3rd quarter. Waller Financial Planning Group Inc. now owns 2,899 shares of the financial services provider’s stock valued at $611,000 after buying an additional 49 shares during the period. Finally, Northside Capital Management LLC increased its stake in shares of JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock worth $1,365,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of a number of recent research reports. Daiwa Capital Markets dropped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Jefferies Financial Group raised their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Oppenheimer increased their target price on JPMorgan Chase & Co. from $221.00 to $234.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $213.47.

JPMorgan Chase & Co. Stock Performance

JPM traded up $7.24 on Friday, hitting $220.08. The company’s stock had a trading volume of 3,436,436 shares, compared to its average volume of 9,073,871. The company’s 50 day simple moving average is $211.32 and its 200-day simple moving average is $203.46. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. The firm has a market cap of $626.17 billion, a P/E ratio of 11.87, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.06 by $0.31. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period last year, the firm earned $4.33 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

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.