Mustard Seed Financial LLC Lowers Stake in JPMorgan Chase & Co. $JPM

Mustard Seed Financial LLC lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.7% in the second quarter, Holdings Channel.com reports. The fund owned 1,576 shares of the financial services provider’s stock after selling 113 shares during the quarter. Mustard Seed Financial LLC’s holdings in JPMorgan Chase & Co. were worth $457,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. LCM Capital Management Inc lifted its stake in shares of JPMorgan Chase & Co. by 0.9% during the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock worth $1,115,000 after purchasing an additional 36 shares in the last quarter. Lakeshore Financial Planning Inc. lifted its stake in shares of JPMorgan Chase & Co. by 0.4% during the second quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider’s stock worth $2,441,000 after purchasing an additional 37 shares in the last quarter. Western Financial Corp CA lifted its stake in shares of JPMorgan Chase & Co. by 1.5% during the second quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider’s stock worth $766,000 after purchasing an additional 38 shares in the last quarter. First Command Advisory Services Inc. lifted its stake in shares of JPMorgan Chase & Co. by 0.4% during the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider’s stock worth $2,283,000 after purchasing an additional 40 shares in the last quarter. Finally, Black Swift Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.7% during the first quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider’s stock worth $1,413,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company’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 sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent research reports. Truist Financial boosted their price objective 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. Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday. Phillip Securities cut JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. The Goldman Sachs Group set a $330.00 price target on JPMorgan Chase & Co. in a research note on Tuesday. Finally, Bank of America boosted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Thirteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $303.45.

JPMorgan Chase & Co. Trading Down 1.0%

Shares of NYSE JPM opened at $307.65 on Friday. The stock’s 50 day moving average price is $300.44 and its two-hundred day moving average price is $273.96. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The stock has a market capitalization of $845.96 billion, a P/E ratio of 15.79, a PEG ratio of 2.05 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. During the same quarter in the prior year, the firm posted $6.12 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is currently 28.73%.

About JPMorgan Chase & Co.

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.