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

Kennebec Savings Bank bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the third quarter, Holdings Channel reports. The fund bought 11,821 shares of the financial services provider’s stock, valued at approximately $2,493,000. JPMorgan Chase & Co. makes up approximately 2.5% of Kennebec Savings Bank’s investment portfolio, making the stock its 4th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC raised its position in shares of JPMorgan Chase & Co. by 18.3% during the third quarter. Ashton Thomas Securities LLC now owns 7,355 shares of the financial services provider’s stock worth $1,551,000 after purchasing an additional 1,139 shares during the period. 1900 Wealth Management LLC raised its position in shares of JPMorgan Chase & Co. by 31.2% during the third quarter. 1900 Wealth Management LLC now owns 32,999 shares of the financial services provider’s stock worth $6,610,000 after purchasing an additional 7,844 shares during the period. River Global Investors LLP raised its position in shares of JPMorgan Chase & Co. by 3.7% during the third quarter. River Global Investors LLP now owns 20,600 shares of the financial services provider’s stock worth $4,342,000 after purchasing an additional 740 shares during the period. Maiden Cove Capital LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $552,000. Finally, Tyler Stone Wealth Management raised its position in shares of JPMorgan Chase & Co. by 155.3% during the third quarter. Tyler Stone Wealth Management now owns 10,054 shares of the financial services provider’s stock worth $2,120,000 after purchasing an additional 6,116 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on JPM shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a research report on Thursday, November 7th. Evercore ISI boosted their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Finally, Oppenheimer upped their price target on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $227.13.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $245.39 on Friday. The business’s 50-day moving average price is $218.84 and its two-hundred day moving average price is $209.56. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a one year low of $150.09 and a one year high of $248.00. The company has a market capitalization of $690.86 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 3.50 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results 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. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the previous year, the company posted $4.33 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

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.