Berkshire Bank Has $7.67 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Berkshire Bank lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,935 shares of the financial services provider’s stock after selling 1,788 shares during the quarter. JPMorgan Chase & Co. comprises about 1.9% of Berkshire Bank’s investment portfolio, making the stock its 9th biggest holding. Berkshire Bank’s holdings in JPMorgan Chase & Co. were worth $7,673,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC lifted its position in shares of JPMorgan Chase & Co. by 132.8% in the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 89 shares in the last quarter. Retirement Group LLC lifted its position in JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares in the last quarter. Richardson Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $34,000. Bare Financial Services Inc acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $35,000. Finally, Partnership Wealth Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $36,000. Institutional investors own 71.55% of the company’s stock.

Insider Activity

In other news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the sale, the insider now owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the transaction, the general counsel now owns 42,124 shares of the company’s stock, valued at approximately $8,452,180.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the sale, the insider now directly owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,533 shares of company stock valued at $5,310,756. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM traded up $1.74 during mid-day trading on Friday, reaching $205.80. The company had a trading volume of 5,540,240 shares, compared to its average volume of 9,292,017. The firm has a market cap of $590.99 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 2.42 and a beta of 1.12. The business’s 50-day simple moving average is $203.58 and its 200 day simple moving average is $194.09. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $217.56. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same quarter last year, the company posted $4.37 EPS. On average, research analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is 25.66%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on JPM shares. UBS Group boosted their target price on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Royal Bank of Canada restated an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Finally, Morgan Stanley lifted their price objective on shares of JPMorgan Chase & Co. from $221.00 to $226.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.71.

JPMorgan Chase & Co. 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.