First Commonwealth Financial Corp PA Buys 2,858 Shares of JPMorgan Chase & Co. $JPM

First Commonwealth Financial Corp PA increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 19.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,582 shares of the financial services provider’s stock after buying an additional 2,858 shares during the period. JPMorgan Chase & Co. accounts for about 0.9% of First Commonwealth Financial Corp PA’s portfolio, making the stock its 18th largest position. First Commonwealth Financial Corp PA’s holdings in JPMorgan Chase & Co. were worth $5,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the second quarter worth approximately $10,295,209,000. Laurel Wealth Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 28,813.7% in the second quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock valued at $4,866,309,000 after purchasing an additional 16,727,530 shares during the period. Danske Bank A S bought a new position in JPMorgan Chase & Co. in the third quarter worth approximately $696,885,000. Holocene Advisors LP increased its holdings in JPMorgan Chase & Co. by 1,033.3% during the 3rd quarter. Holocene Advisors LP now owns 2,155,120 shares of the financial services provider’s stock worth $679,790,000 after purchasing an additional 1,964,958 shares during the period. Finally, Viking Global Investors LP increased its holdings in JPMorgan Chase & Co. by 86.1% during the 2nd quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider’s stock worth $1,171,826,000 after purchasing an additional 1,870,386 shares during the period. Institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of several research reports. Truist Financial lowered their target price on JPMorgan Chase & Co. from $334.00 to $330.00 in a report on Wednesday, February 25th. CICC Research initiated coverage on JPMorgan Chase & Co. in a report on Wednesday, January 14th. They issued an “outperform” rating and a $355.00 price objective for the company. Robert W. Baird upped their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 4th. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $336.00 to $345.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Finally, Freedom Capital raised shares of JPMorgan Chase & Co. to a “hold” rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $340.00.

View Our Latest Report on JPM

Key Headlines Impacting JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

Insider Transactions at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 50,000 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the completion of the sale, the chief executive officer owned 111,279 shares of the company’s stock, valued at $34,174,893.69. The trade was a 31.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robin Leopold sold 432 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $307.14, for a total value of $132,684.48. Following the completion of the sale, the insider owned 65,353 shares in the company, valued at approximately $20,072,520.42. This represents a 0.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 71,596 shares of company stock valued at $22,067,932. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Trading Up 0.3%

NYSE:JPM opened at $287.68 on Thursday. The company has a market capitalization of $775.88 billion, a P/E ratio of 14.38, a PEG ratio of 1.19 and a beta of 1.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $337.25. The firm has a fifty day simple moving average of $304.03 and a 200-day simple moving average of $308.08.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its earnings results on Tuesday, January 13th. The financial services provider reported $5.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.93 by $0.30. JPMorgan Chase & Co. had a return on equity of 17.16% and a net margin of 20.35%.The firm had revenue of $45.80 billion for the quarter, compared to the consensus estimate of $45.98 billion. During the same period in the prior year, the firm earned $4.81 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, April 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, April 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.99%.

About JPMorgan Chase & Co.

(Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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