J P Morgan Chase & Co (JPM) Stake Decreased by iAB Financial Bank

iAB Financial Bank lowered its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,168 shares of the financial services provider’s stock after selling 5,482 shares during the period. J P Morgan Chase & Co accounts for 4.4% of iAB Financial Bank’s portfolio, making the stock its 4th largest position. iAB Financial Bank’s holdings in J P Morgan Chase & Co were worth $8,535,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Bartlett & Co. LLC raised its stake in shares of J P Morgan Chase & Co by 4.2% in the first quarter. Bartlett & Co. LLC now owns 88,152 shares of the financial services provider’s stock worth $7,743,000 after buying an additional 3,584 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management raised its stake in shares of J P Morgan Chase & Co by 3.7% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 14,595 shares of the financial services provider’s stock worth $1,282,000 after buying an additional 516 shares during the period. Granite Investment Partners LLC raised its stake in shares of J P Morgan Chase & Co by 42.3% in the first quarter. Granite Investment Partners LLC now owns 23,538 shares of the financial services provider’s stock worth $2,068,000 after buying an additional 7,000 shares during the period. Baystate Wealth Management LLC raised its stake in shares of J P Morgan Chase & Co by 51.7% in the first quarter. Baystate Wealth Management LLC now owns 7,187 shares of the financial services provider’s stock worth $614,000 after buying an additional 2,448 shares during the period. Finally, Adviser Investments LLC acquired a new stake in shares of J P Morgan Chase & Co during the first quarter worth $6,648,000. Hedge funds and other institutional investors own 74.84% of the company’s stock.

Shares of J P Morgan Chase & Co (JPM) traded up 0.10% during trading on Friday, hitting $90.74. The company had a trading volume of 13,040,738 shares. The stock has a market cap of $319.27 billion, a PE ratio of 13.39 and a beta of 1.19. J P Morgan Chase & Co has a 12-month low of $65.11 and a 12-month high of $95.22. The firm has a 50 day moving average of $92.32 and a 200 day moving average of $88.70.

J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.23. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.55 EPS. On average, analysts forecast that J P Morgan Chase & Co will post $6.81 earnings per share for the current fiscal year.

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A number of equities research analysts have weighed in on the company. Wells Fargo & Company assumed coverage on J P Morgan Chase & Co in a research note on Wednesday, August 9th. They set an “outperform” rating and a $110.00 price objective for the company. Berenberg Bank set a $65.00 price objective on J P Morgan Chase & Co and gave the company a “sell” rating in a research note on Thursday, August 3rd. BidaskClub lowered J P Morgan Chase & Co from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research note on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of J P Morgan Chase & Co in a research report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $85.53.

In other J P Morgan Chase & Co news, CFO Marianne Lake sold 17,596 shares of the stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $91.58, for a total transaction of $1,611,441.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicole Giles sold 1,000 shares of the stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $91.29, for a total value of $91,290.00. Following the transaction, the insider now owns 3,783 shares of the company’s stock, valued at approximately $345,350.07. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.

J P Morgan Chase & Co Company 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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