Penobscot Wealth Management Has $291,000 Stake in JPMorgan Chase & Co. (NYSE:JPM)

Penobscot Wealth Management boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 37.1% in the third quarter, Holdings Channel.com reports. The firm owned 1,378 shares of the financial services provider’s stock after acquiring an additional 373 shares during the period. Penobscot Wealth Management’s holdings in JPMorgan Chase & Co. were worth $291,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Retirement Group LLC boosted its holdings in 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 during the last quarter. Fairway Wealth LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth about $32,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. in the second quarter valued at approximately $34,000. Davidson Capital Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $37,000. Finally, West Financial Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter valued at $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JPM. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Citigroup boosted their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. BMO Capital Markets lifted their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Finally, Piper Sandler upped their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.81.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $219.78 on Tuesday. The company’s 50-day moving average price is $216.17 and its two-hundred day moving average price is $207.18. JPMorgan Chase & Co. has a 12 month low of $142.79 and a 12 month high of $226.75. The company has a quick ratio of 0.91, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a market cap of $618.76 billion, a P/E ratio of 12.23, a P/E/G ratio of 3.24 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter last year, the business posted $4.33 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. On average, analysts anticipate that JPMorgan Chase & Co. will post 17.52 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a $1.25 dividend. 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 boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

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.