Penobscot Investment Management Company Inc. Has $32.18 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Penobscot Investment Management Company Inc. cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 134,226 shares of the financial services provider’s stock after selling 301 shares during the quarter. JPMorgan Chase & Co. comprises 2.9% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 5th biggest position. Penobscot Investment Management Company Inc.’s holdings in JPMorgan Chase & Co. were worth $32,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JPM. Proficio Capital Partners LLC grew its position in JPMorgan Chase & Co. by 34,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock valued at $838,865,000 after buying an additional 3,489,314 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of JPMorgan Chase & Co. by 93.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock valued at $567,669,000 after acquiring an additional 1,301,764 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $259,038,000. Franklin Resources Inc. increased its stake in shares of JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after acquiring an additional 1,016,289 shares during the period. Finally, DJE Kapital AG bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $179,870,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $242.97 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The firm has a market capitalization of $679.36 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The company has a 50 day simple moving average of $257.55 and a 200-day simple moving average of $240.77. JPMorgan Chase & Co. has a 52-week low of $179.20 and a 52-week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 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 Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a $1.40 dividend. The ex-dividend date is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s payout ratio is 28.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on JPM shares. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Piper Sandler lifted their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Barclays upped their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $215.00 to $220.00 in a research note on Friday, March 7th. Finally, Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $252.89.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at $42,737,529.04. The trade was a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the transaction, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,848 shares of company stock valued at $19,987,908 in the last three months. Insiders own 0.79% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.