JPMorgan Chase & Co. (NYSE:JPM) Position Boosted by Indiana Trust & Investment Management Co

Indiana Trust & Investment Management Co grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,548 shares of the financial services provider’s stock after buying an additional 545 shares during the quarter. JPMorgan Chase & Co. makes up 2.0% of Indiana Trust & Investment Management Co’s portfolio, making the stock its 10th biggest holding. Indiana Trust & Investment Management Co’s holdings in JPMorgan Chase & Co. were worth $5,809,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in JPM. Retirement Group LLC boosted its holdings in JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares during the period. Fairway Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. in the second quarter valued at about $32,000. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $34,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $34,000. Finally, Davidson Capital Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $37,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.6 %

Shares of JPM opened at $223.64 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The business has a fifty day moving average of $213.22 and a 200 day moving average of $204.17. The company has a market cap of $642.22 billion, a PE ratio of 12.47, a P/E/G ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.33 EPS. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 27.89%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on JPM. Evercore ISI upped their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday. Piper Sandler upped their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Finally, Oppenheimer reduced their target price on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a report on Monday. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $217.94.

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.