Bar Harbor Wealth Management Has $17.92 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Bar Harbor Wealth Management lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,970 shares of the financial services provider’s stock after selling 2,174 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.1% of Bar Harbor Wealth Management’s portfolio, making the stock its 20th biggest position. Bar Harbor Wealth Management’s holdings in JPMorgan Chase & Co. were worth $17,917,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Swedbank AB bought a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $800,130,000. Capital Research Global Investors raised its holdings in shares of JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after acquiring an additional 3,252,451 shares during the period. Wulff Hansen & CO. lifted its position in JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after acquiring an additional 2,787,510 shares in the last quarter. Granite Bay Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 6,239.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after purchasing an additional 1,396,194 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in JPMorgan Chase & Co. by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after purchasing an additional 1,040,594 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. BMO Capital Markets lifted their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Jefferies Financial Group increased their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Stock Performance

JPM opened at $225.43 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The business has a fifty day simple moving average of $214.03 and a 200 day simple moving average of $204.50. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.92. The company has a market capitalization of $647.36 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 3.28 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, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the prior year, the business posted $4.33 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. Research analysts expect that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

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.