Hills Bank & Trust Co Lowers Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Hills Bank & Trust Co trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.2% during the third quarter, Holdings Channel.com reports. The fund owned 59,471 shares of the financial services provider’s stock after selling 1,327 shares during the period. JPMorgan Chase & Co. accounts for about 0.9% of Hills Bank & Trust Co’s investment portfolio, making the stock its 25th biggest position. Hills Bank & Trust Co’s holdings in JPMorgan Chase & Co. were worth $12,540,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in JPM. Retirement Group LLC lifted its position in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares in the last quarter. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $32,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Davidson Capital Management Inc. purchased a new position in JPMorgan Chase & Co. in the 1st quarter valued at approximately $37,000. Finally, West Financial Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the third quarter worth $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.4 %

JPM opened at $219.78 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 52 week low of $142.79 and a 52 week high of $226.75. The business’s 50 day moving average is $216.17 and its two-hundred day moving average is $207.18. The firm has a market cap of $618.76 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 3.24 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the firm earned $4.33 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts predict that JPMorgan Chase & Co. will post 17.52 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.28%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of recent research reports. Oppenheimer decreased their target price on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Barclays lifted their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley lowered 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, September 30th. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Finally, Piper Sandler lifted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $222.81.

About JPMorgan Chase & Co.

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.