First Bancorp Inc ME Reduces Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

First Bancorp Inc ME reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,092 shares of the financial services provider’s stock after selling 535 shares during the period. First Bancorp Inc ME’s holdings in JPMorgan Chase & Co. were worth $1,074,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in JPM. Retirement Group LLC boosted its holdings in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares during the last quarter. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter worth $32,000. Richardson Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $34,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $34,000. Finally, Davidson Capital Management Inc. acquired a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $37,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on JPM shares. Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Citigroup lifted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Jefferies Financial Group increased their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Trading Up 0.4 %

Shares of NYSE JPM opened at $225.37 on Monday. The business has a 50 day simple moving average of $214.03 and a 200 day simple moving average of $204.58. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.92. The stock has a market cap of $647.19 billion, a price-to-earnings ratio of 12.57, a PEG 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. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.33 EPS. On average, research analysts predict that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.22%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 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.