United Bank lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,989 shares of the financial services provider’s stock after selling 436 shares during the period. JPMorgan Chase & Co. comprises 2.7% of United Bank’s holdings, making the stock its 6th largest position. United Bank’s holdings in JPMorgan Chase & Co. were worth $3,125,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quad Cities Investment Group LLC acquired a new stake in JPMorgan Chase & Co. during the second quarter worth approximately $124,000. Ballew Advisors Inc lifted its position in JPMorgan Chase & Co. by 104.2% during the second quarter. Ballew Advisors Inc now owns 1,213 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 619 shares during the last quarter. Stelac Advisory Services LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter worth approximately $162,000. Kwmg LLC acquired a new stake in JPMorgan Chase & Co. during the second quarter worth approximately $158,000. Finally, Private Ocean LLC lifted its position in JPMorgan Chase & Co. by 94.7% during the first quarter. Private Ocean LLC now owns 1,694 shares of the financial services provider’s stock worth $186,000 after acquiring an additional 824 shares during the last quarter. Institutional investors and hedge funds own 69.14% of the company’s stock.
Several equities research analysts have issued reports on the stock. Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 26th. Zacks Investment Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Thursday, November 22nd. BMO Capital Markets raised their price objective on shares of JPMorgan Chase & Co. to $124.00 and gave the stock a “market perform” rating in a research report on Monday, October 15th. Wolfe Research assumed coverage on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 25th. They set an “outperform” rating for the company. Finally, Bank of America set a $132.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Sunday, October 14th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. JPMorgan Chase & Co. has an average rating of “Buy” and an average target price of $123.49.
JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 12th. The financial services provider reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.10. JPMorgan Chase & Co. had a net margin of 23.39% and a return on equity of 13.90%. The company had revenue of $27.26 billion during the quarter, compared to the consensus estimate of $27.20 billion. During the same period in the previous year, the business earned $1.76 earnings per share. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 9.26 earnings per share for the current year.
In other JPMorgan Chase & Co. news, Director Mellody L. Hobson purchased 1,150 shares of the company’s stock in a transaction dated Friday, October 19th. The stock was bought at an average cost of $108.94 per share, for a total transaction of $125,281.00. Following the completion of the transaction, the director now owns 2,632 shares in the company, valued at $286,730.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is currently owned by insiders.
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JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
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