JPMorgan Chase & Co. (NYSE:JPM) is Independence Bank of Kentucky’s 4th Largest Position

Independence Bank of Kentucky lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,782 shares of the financial services provider’s stock after buying an additional 1,920 shares during the quarter. JPMorgan Chase & Co. makes up 3.6% of Independence Bank of Kentucky’s holdings, making the stock its 4th largest position. Independence Bank of Kentucky’s holdings in JPMorgan Chase & Co. were worth $22,759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock valued at $14,161,171,000 after buying an additional 876,417 shares in the last quarter. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $8,310,884,000. Northern Trust Corp boosted its stake in shares of JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after acquiring an additional 4,515,147 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares during the last quarter. Finally, Capital Research Global Investors increased its position in shares of JPMorgan Chase & Co. by 9.1% during the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock worth $5,475,223,000 after purchasing an additional 1,914,049 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $265.81 on Friday. The firm has a market capitalization of $738.71 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 2.83 and a beta of 1.08. The firm’s fifty day simple moving average is $247.68 and its 200-day simple moving average is $249.86. JPMorgan Chase & Co. has a twelve month low of $190.88 and a twelve month high of $280.25. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.63 by $0.44. The firm had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. JPMorgan Chase & Co.’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.44 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer now directly owns 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the sale, the chief executive officer now owns 133,381 shares of the company’s stock, valued at $32,947,774.62. This represents a 15.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,722 shares of company stock worth $25,599,477 over the last 90 days. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on JPM shares. Bank of America dropped their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Morgan Stanley reissued an “equal weight” rating on shares of JPMorgan Chase & Co. in a research note on Monday. Finally, Truist Financial raised their target price on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a “hold” rating in a research note on Monday, June 2nd. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $267.15.

JPMorgan Chase & Co. Profile

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.