Ames National Corp Invests $2.22 Million in JPMorgan Chase & Co. (NYSE:JPM)

Ames National Corp acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,260 shares of the financial services provider’s stock, valued at approximately $2,220,000. JPMorgan Chase & Co. comprises about 1.4% of Ames National Corp’s portfolio, making the stock its 17th largest holding.

A number of other hedge funds also recently made changes to their positions in the stock. Redwood Park Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth $29,000. Sellwood Investment Partners LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $37,000. Prudent Man Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $43,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $265.55 on Wednesday. JPMorgan Chase & Co. has a 1 year low of $190.88 and a 1 year high of $280.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The company’s 50-day moving average is $242.28 and its 200 day moving average is $247.67. The stock has a market capitalization of $737.99 billion, a P/E ratio of 13.45, a P/E/G ratio of 2.83 and a beta of 1.07.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same period last year, the business posted $4.44 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is presently 27.49%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on JPM. Morgan Stanley increased their target price on JPMorgan Chase & Co. from $235.00 to $236.00 and gave the company an “equal weight” rating in a report on Tuesday. Royal Bank of Canada boosted their price objective on JPMorgan Chase & Co. from $255.00 to $285.00 and gave the company an “outperform” rating in a research report on Tuesday. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Robert W. Baird increased their price target on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.20.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, the insider now owns 50,377 shares in the company, valued at approximately $13,606,323.93. This represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the transaction, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at $42,737,529.04. This represents a 19.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,617 shares of company stock worth $35,600,742 over the last ninety days. 0.47% of the stock is owned by corporate insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.