J P Morgan Chase & Co (JPM) Holdings Raised by Ledyard National Bank

Ledyard National Bank raised its holdings in shares of J P Morgan Chase & Co (NYSE:JPM) by 11.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,999 shares of the financial services provider’s stock after acquiring an additional 900 shares during the quarter. Ledyard National Bank’s holdings in J P Morgan Chase & Co were worth $822,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Pacific Center for Financial Services increased its holdings in shares of J P Morgan Chase & Co by 14.5% in the first quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 177 shares during the last quarter. Ullmann Financial Group Inc. bought a new stake in shares of J P Morgan Chase & Co in the first quarter worth about $148,000. Northwest Investment Counselors LLC bought a new stake in shares of J P Morgan Chase & Co in the second quarter worth about $165,000. Cordasco Financial Network increased its holdings in shares of J P Morgan Chase & Co by 496.7% in the second quarter. Cordasco Financial Network now owns 2,333 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 1,942 shares during the last quarter. Finally, Mascoma Wealth Management LLC increased its holdings in shares of J P Morgan Chase & Co by 3.1% in the second quarter. Mascoma Wealth Management LLC now owns 2,440 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 73 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

In other J P Morgan Chase & Co news, CFO Marianne Lake sold 17,596 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $91.58, for a total value of $1,611,441.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stacey Friedman sold 9,968 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $90.55, for a total transaction of $902,602.40. Following the completion of the transaction, the general counsel now directly owns 10,527 shares of the company’s stock, valued at approximately $953,219.85. The disclosure for this sale can be found here. Insiders sold a total of 28,564 shares of company stock valued at $2,605,334 in the last three months. 0.88% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently issued reports on JPM shares. Buckingham Research reaffirmed a “neutral” rating and issued a $100.00 target price (up from $94.00) on shares of J P Morgan Chase & Co in a report on Monday, July 10th. Bank of America Corporation reaffirmed an “outperform” rating and issued a $99.00 target price on shares of J P Morgan Chase & Co in a report on Wednesday, June 21st. Keefe, Bruyette & Woods set a $96.00 target price on J P Morgan Chase & Co and gave the stock a “hold” rating in a report on Saturday, August 19th. Credit Suisse Group reaffirmed a “buy” rating and issued a $110.00 target price (up from $103.00) on shares of J P Morgan Chase & Co in a report on Monday. They noted that the move was a valuation call. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $93.00 target price on shares of J P Morgan Chase & Co in a report on Thursday, July 6th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have issued a buy rating to the company. J P Morgan Chase & Co has a consensus rating of “Hold” and a consensus price target of $88.87.

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Shares of J P Morgan Chase & Co (NYSE:JPM) traded up 0.410% during mid-day trading on Tuesday, hitting $96.805. The company had a trading volume of 4,543,741 shares. The firm has a 50-day moving average price of $92.89 and a 200 day moving average price of $89.53. J P Morgan Chase & Co has a 52-week low of $66.74 and a 52-week high of $97.64. The firm has a market capitalization of $340.61 billion, a price-to-earnings ratio of 14.280 and a beta of 1.18.

J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.23. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company posted $1.55 EPS. Analysts expect that J P Morgan Chase & Co will post $6.80 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.32%. The ex-dividend date is Thursday, October 5th. This is a boost from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. J P Morgan Chase & Co’s dividend payout ratio (DPR) is currently 33.14%.

J P Morgan Chase & Co Profile

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

Institutional Ownership by Quarter for J P Morgan Chase & Co (NYSE:JPM)

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