1ST Source Bank Sells 986 Shares of JPMorgan Chase & Co. (NYSE:JPM)

1ST Source Bank trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 72,691 shares of the financial services provider’s stock after selling 986 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.9% of 1ST Source Bank’s portfolio, making the stock its 19th biggest position. 1ST Source Bank’s holdings in JPMorgan Chase & Co. were worth $14,702,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Retirement Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares during the last quarter. Richardson Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the first quarter worth about $34,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the second quarter worth about $34,000. Davidson Capital Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $37,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $40,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Down 0.8 %

JPM stock opened at $207.60 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48. The business has a 50 day simple moving average of $211.43 and a two-hundred day simple moving average of $201.40. The company has a market capitalization of $596.16 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 earned $4.37 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.41%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.66%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Oppenheimer lifted their target price 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. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Finally, 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. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.06.

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.