Kennebec Savings Bank Buys New Stake in JPMorgan Chase & Co. (NYSE:JPM)

Kennebec Savings Bank bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 11,821 shares of the financial services provider’s stock, valued at approximately $2,493,000. JPMorgan Chase & Co. makes up 2.5% of Kennebec Savings Bank’s portfolio, making the stock its 4th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in JPM. International Assets Investment Management LLC acquired a new position in JPMorgan Chase & Co. in the 3rd quarter worth $1,888,088,000. Swedbank AB acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $800,130,000. Capital Research Global Investors lifted its position in shares of JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares during the last quarter. Wulff Hansen & CO. grew its stake in JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after purchasing an additional 2,787,510 shares in the last quarter. Finally, Granite Bay Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 6,239.1% in the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after buying an additional 1,396,194 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $245.39 on Friday. The company has a market capitalization of $690.86 billion, a P/E ratio of 13.66, a PEG ratio of 3.50 and a beta of 1.10. The company has a 50-day simple moving average of $218.84 and a 200 day simple moving average of $209.56. JPMorgan Chase & Co. has a fifty-two week low of $150.09 and a fifty-two week high of $248.00. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business earned $4.33 earnings per share. Sell-side analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.04%. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a report on Thursday, November 7th. Daiwa Capital Markets decreased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Barclays raised their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $227.13.

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.