Bangor Savings Bank Decreases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 21st, 2023

Bangor Savings Bank trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 49,790 shares of the financial services provider’s stock after selling 599 shares during the quarter. JPMorgan Chase & Co. comprises about 0.8% of Bangor Savings Bank’s investment portfolio, making the stock its 20th largest holding. Bangor Savings Bank’s holdings in JPMorgan Chase & Co. were worth $6,488,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Retirement Financial Solutions LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $26,000. Creative Capital Management Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at $30,000. Boulder Wealth Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $43,000. Capital Directions Investment Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth $44,000. Finally, Bellwether Advisors LLC lifted its position in JPMorgan Chase & Co. by 119.1% during the 3rd quarter. Bellwether Advisors LLC now owns 493 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 268 shares during the period. 70.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a research note on Monday, April 17th. Piper Sandler upped their target price on JPMorgan Chase & Co. from $147.00 to $151.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. BMO Capital Markets raised their target price on JPMorgan Chase & Co. from $169.00 to $170.00 in a report on Tuesday, May 2nd. Credit Suisse Group boosted their price target on JPMorgan Chase & Co. from $155.00 to $160.00 in a report on Tuesday, April 18th. Finally, 92 Resources reaffirmed a “maintains” rating on shares of JPMorgan Chase & Co. in a research note on Friday, May 12th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average target price of $157.65.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total value of $15,447,085.20. Following the sale, the chief executive officer now directly owns 566,665 shares in the company, valued at approximately $77,026,773.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the sale, the chief executive officer now owns 566,665 shares of the company’s stock, valued at approximately $77,026,773.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Peter Scher sold 2,482 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $141.39, for a total value of $350,929.98. Following the completion of the transaction, the insider now directly owns 41,333 shares of the company’s stock, valued at $5,844,072.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,861 shares of company stock valued at $19,858,275. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $142.53 on Wednesday. The firm has a 50-day simple moving average of $138.22 and a two-hundred day simple moving average of $136.35. The stock has a market cap of $416.51 billion, a PE ratio of 10.52, a P/E/G ratio of 2.00 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $144.34. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.85 and a quick ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.69. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The business had revenue of $38.35 billion during the quarter, compared to analysts’ expectations of $35.77 billion. During the same period in the previous year, the firm posted $2.63 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 14.35 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Wednesday, July 5th. JPMorgan Chase & Co.’s payout ratio is presently 29.52%.

JPMorgan Chase & Co. Company Profile

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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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.