Country Trust Bank Has $68.93 Million Holdings in JPMorgan Chase & Co. (JPM)
Country Trust Bank lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 721,698 shares of the financial services provider’s stock after acquiring an additional 32,206 shares during the period. JPMorgan Chase & Co. makes up approximately 3.1% of Country Trust Bank’s investment portfolio, making the stock its 2nd largest position. Country Trust Bank’s holdings in JPMorgan Chase & Co. were worth $68,929,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in JPM. Private Vista LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter worth about $102,000. Kohmann Bosshard Financial Services LLC purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter worth about $102,000. Atlantic Trust LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter worth about $136,000. Northwest Investment Counselors LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter worth about $165,000. Finally, Capital Advisors Ltd. LLC increased its position in JPMorgan Chase & Co. by 53.0% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,935 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 670 shares in the last quarter. 73.78% of the stock is owned by institutional investors and hedge funds.
Shares of JPMorgan Chase & Co. (JPM) opened at $112.67 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a fifty-two week low of $81.64 and a fifty-two week high of $112.85. The stock has a market capitalization of $390,930.00, a PE ratio of 17.66, a PEG ratio of 2.05 and a beta of 1.22.
JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, January 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.07. JPMorgan Chase & Co. had a return on equity of 11.63% and a net margin of 21.46%. The business had revenue of $24.15 billion during the quarter, compared to analysts’ expectations of $24.87 billion. During the same quarter in the previous year, the business earned $1.71 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. research analysts expect that JPMorgan Chase & Co. will post 8.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 5th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, January 4th. JPMorgan Chase & Co.’s payout ratio is currently 35.11%.
In other news, General Counsel Stacey Friedman sold 2,099 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $101.96, for a total transaction of $214,014.04. Following the completion of the sale, the general counsel now owns 15,279 shares in the company, valued at approximately $1,557,846.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is currently owned by insiders.
A number of research firms recently commented on JPM. Argus lifted their price objective on JPMorgan Chase & Co. from $109.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday. Vining Sparks reiterated a “buy” rating and set a $120.00 price objective on shares of JPMorgan Chase & Co. in a research report on Friday. Nomura set a $115.00 price objective on JPMorgan Chase & Co. and gave the stock a “neutral” rating in a research report on Friday. Societe Generale cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, Vetr cut JPMorgan Chase & Co. from a “sell” rating to a “strong sell” rating and set a $93.51 price objective for the company. in a research report on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $102.52.
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JPMorgan Chase & Co. Profile
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
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