Pinnacle Bancorp Inc. Grows Position in JPMorgan Chase & Co. (NYSE:JPM)

Pinnacle Bancorp Inc. grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 32.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,241 shares of the financial services provider’s stock after acquiring an additional 5,200 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.2% of Pinnacle Bancorp Inc.’s portfolio, making the stock its 13th largest holding. Pinnacle Bancorp Inc.’s holdings in JPMorgan Chase & Co. were worth $4,479,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Instrumental Wealth LLC increased its holdings in shares of JPMorgan Chase & Co. by 4.5% in the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 47 shares during the last quarter. Gemmer Asset Management LLC grew its holdings in JPMorgan Chase & Co. by 1.6% during the 2nd quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock valued at $634,000 after buying an additional 48 shares in the last quarter. Great Point Wealth Advisors LLC increased its stake in 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 worth $1,151,000 after acquiring an additional 48 shares during the last quarter. Waller Financial Planning Group Inc. raised its holdings in shares of JPMorgan Chase & Co. by 1.7% during the 3rd quarter. Waller Financial Planning Group Inc. now owns 2,899 shares of the financial services provider’s stock worth $611,000 after acquiring an additional 49 shares in the last quarter. Finally, Northside Capital Management LLC boosted its position 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 valued at $1,365,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.3 %

JPM opened at $212.84 on Friday. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. The stock has a fifty day moving average price of $211.22 and a 200-day moving average price of $203.39. The firm has a market cap of $605.57 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 3.28 and a beta of 1.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to analysts’ expectations 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 period last year, the business earned $4.37 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.35%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Daiwa Capital Markets decreased their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday. Piper Sandler lifted their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $213.47.

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.