VeraBank N.A. Grows Stake in JPMorgan Chase & Co. $JPM

VeraBank N.A. boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,515 shares of the financial services provider’s stock after buying an additional 3,102 shares during the period. JPMorgan Chase & Co. makes up 1.4% of VeraBank N.A.’s holdings, making the stock its 17th largest position. VeraBank N.A.’s holdings in JPMorgan Chase & Co. were worth $6,817,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Kingstone Capital Partners Texas LLC increased its stake in shares of JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock worth $21,133,630,000 after acquiring an additional 72,885,260 shares during the period. Nuveen LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $3,972,807,000. Montrusco Bolton Investments Inc. purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $485,802,000. International Assets Investment Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $458,104,000. Finally, National Bank of Canada FI grew its position in shares of JPMorgan Chase & Co. by 44.4% during the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock worth $1,108,415,000 after buying an additional 1,388,992 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, October 21st. Truist Financial upped their price target on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research note on Tuesday, September 23rd. Wall Street Zen raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Morgan Stanley lifted their target price on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Finally, Loop Capital set a $310.00 price target on shares of JPMorgan Chase & Co. in a report on Thursday, October 23rd. Fifteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $326.38.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $298.72 on Friday. The company has a 50-day simple moving average of $307.61 and a 200-day simple moving average of $290.88. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The company has a market cap of $813.19 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $322.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. JPMorgan Chase & Co.’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business earned $4.37 earnings per share. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were paid a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Robin Leopold sold 966 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the transaction, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. This represents a 1.63% decrease in their position. The SEC filing for this sale provides additional information. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Profile

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.