Bangor Savings Bank Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Bangor Savings Bank lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.7% during the fourth quarter, Holdings Channel reports. The firm owned 45,603 shares of the financial services provider’s stock after selling 805 shares during the period. JPMorgan Chase & Co. makes up approximately 1.0% of Bangor Savings Bank’s portfolio, making the stock its 19th largest position. Bangor Savings Bank’s holdings in JPMorgan Chase & Co. were worth $10,931,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of JPM. Geode Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock valued at $12,258,346,000 after acquiring an additional 505,830 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of JPMorgan Chase & Co. by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after purchasing an additional 1,040,594 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of JPMorgan Chase & Co. by 31.7% during the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after purchasing an additional 4,043,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in JPMorgan Chase & Co. by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock worth $3,180,806,000 after purchasing an additional 302,592 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in JPMorgan Chase & Co. by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after purchasing an additional 1,016,289 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.0 %

Shares of JPMorgan Chase & Co. stock opened at $240.94 on Tuesday. The company’s 50-day moving average price is $240.05 and its 200-day moving average price is $221.62. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 12-month low of $164.30 and a 12-month high of $254.31. The company has a market cap of $678.33 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 3.54 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same period in the previous year, the business posted $4.33 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 2.08%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Wall Street Analysts Forecast Growth

Several research firms have commented on JPM. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Evercore ISI lifted their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus price target of $243.82.

JPMorgan Chase & Co. Company Profile

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.