Centennial Bank AR Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Centennial Bank AR decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,108 shares of the financial services provider’s stock after selling 1,649 shares during the quarter. JPMorgan Chase & Co. comprises 1.1% of Centennial Bank AR’s holdings, making the stock its 23rd largest holding. Centennial Bank AR’s holdings in JPMorgan Chase & Co. were worth $2,247,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Retirement Group LLC boosted its position in shares of JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares during the period. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth $32,000. Richardson Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at $34,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $34,000. Finally, Davidson Capital Management Inc. acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on JPM. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $220.00 to $224.00 in a research note on Monday. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Evercore ISI lifted their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Piper Sandler upped their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Oppenheimer increased their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $211.31.

JPMorgan Chase & Co. Stock Down 1.8 %

JPM stock opened at $207.04 on Wednesday. The company’s 50 day moving average is $211.42 and its two-hundred day moving average is $202.85. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock has a market cap of $594.55 billion, a P/E ratio of 11.55, a PEG ratio of 2.39 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced 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 firm had revenue of $50.80 billion during 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 in the previous year, the company earned $4.37 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 16.72 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. Investors of record on Friday, October 4th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 4th. This is a boost 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 2.41%. JPMorgan Chase & Co.’s dividend payout ratio is 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.