Busey Bank Has $64.93 Million Holdings in JPMorgan Chase & Co. $JPM

Busey Bank boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the first quarter, HoldingsChannel reports. The firm owned 220,718 shares of the financial services provider’s stock after acquiring an additional 2,390 shares during the period. JPMorgan Chase & Co. accounts for about 1.8% of Busey Bank’s holdings, making the stock its 16th biggest position. Busey Bank’s holdings in JPMorgan Chase & Co. were worth $64,926,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in JPM. Timmons Wealth Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $27,000. MBM Wealth Consultants LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $32,000. Osbon Capital Management LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $35,000. Finally, Turning Point Benefit Group Inc. bought a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on JPM shares. Daiwa Securities Group decreased their price objective on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Royal Bank Of Canada reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Autonomous Res reduced their price target on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Piper Sandler boosted their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Finally, Argus upped their price objective on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $345.33.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s AI agents reportedly beat both a 60/40 portfolio and the bank’s rules-based model in backtests, suggesting the company may have a useful edge in applying AI to investing and portfolio construction. JPMorgan AI Agents Beat Traditional Investment Portfolios in Historical Simulations
• Positive Sentiment: Analysts are turning more constructive ahead of earnings, with JPMorgan’s upcoming Q2 results expected to benefit from strong trading and deal activity, which could support earnings momentum. JPMorgan Q2 Earnings Preview — Analysts Raise JPM Stock Price Targets
• Positive Sentiment: JPMorgan is being highlighted as one of the more attractive financial stocks, and a higher price target from Morgan Stanley has added to the bullish tone around the name. JPMorgan (JPM) Ranks Among Most Profitable Stocks
• Neutral Sentiment: Market commentary suggests the broader banking sector could get a boost from upcoming earnings, but results will need to confirm that optimism before it becomes a stronger stock driver. Bank Earnings to Get Wall Street Boost. Can Main Street Keep Up?

Insider Transactions at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 4,919 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the transaction, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. The trade was a 8.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 33,623 shares of company stock valued at $10,427,835 over the last quarter. Corporate insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $336.03 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50 day simple moving average of $315.85 and a 200 day simple moving average of $309.79. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $343.45. The firm has a market capitalization of $900.40 billion, a PE ratio of 16.09, a P/E/G ratio of 1.53 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate of $5.50 by $0.44. The firm had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company posted $5.07 EPS. Sell-side analysts predict that JPMorgan Chase & Co. will post 22.82 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.74%.

JPMorgan Chase & Co. Profile

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.