Busey Bank Sells 3,351 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Busey Bank lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 236,365 shares of the financial services provider’s stock after selling 3,351 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.6% of Busey Bank’s portfolio, making the stock its 12th largest holding. Busey Bank’s holdings in JPMorgan Chase & Co. were worth $49,840,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Finally, Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. Stock Down 1.2 %

Shares of NYSE:JPM opened at $222.31 on Monday. The firm has a market capitalization of $638.40 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.92. The firm has a fifty day moving average of $215.39 and a 200 day moving average of $205.52.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.33 EPS. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.25%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

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.