Grove Bank & Trust Purchases 435 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Grove Bank & Trust grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,842 shares of the financial services provider’s stock after purchasing an additional 435 shares during the period. JPMorgan Chase & Co. makes up approximately 0.9% of Grove Bank & Trust’s investment portfolio, making the stock its 25th largest holding. Grove Bank & Trust’s holdings in JPMorgan Chase & Co. were worth $5,871,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of JPM. Retirement Group LLC grew its position in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares in the last quarter. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $32,000. Richardson Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $34,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. during the second quarter worth about $34,000. Finally, Davidson Capital Management Inc. acquired a new position in JPMorgan Chase & Co. during the first quarter worth approximately $37,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Down 0.4 %

Shares of NYSE JPM opened at $221.48 on Tuesday. The stock has a market cap of $636.02 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The firm has a 50 day moving average price of $212.32 and a two-hundred day moving average price of $203.88. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. 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 announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the previous year, the business earned $4.33 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

Analyst Ratings Changes

Several brokerages have recently commented on JPM. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Evercore ISI increased their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday. Citigroup increased their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Piper Sandler lifted their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada increased their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.