Associated Banc Corp Lowers Position in JPMorgan Chase & Co. $JPM

Associated Banc Corp trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 385,784 shares of the financial services provider’s stock after selling 7,611 shares during the quarter. JPMorgan Chase & Co. accounts for 3.0% of Associated Banc Corp’s portfolio, making the stock its 7th largest position. Associated Banc Corp’s holdings in JPMorgan Chase & Co. were worth $113,482,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JPM. United Bank lifted its holdings in shares of JPMorgan Chase & Co. by 1.2% during the first quarter. United Bank now owns 28,574 shares of the financial services provider’s stock valued at $8,405,000 after acquiring an additional 339 shares during the period. ARQ Wealth Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 9.9% in the 1st quarter. ARQ Wealth Advisors LLC now owns 1,663 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 150 shares in the last quarter. Diversify Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 117.2% in the 1st quarter. Diversify Wealth Management LLC now owns 71,589 shares of the financial services provider’s stock worth $22,139,000 after purchasing an additional 38,634 shares during the last quarter. Pittenger & Anderson Inc. grew its holdings in shares of JPMorgan Chase & Co. by 4.8% in the 1st quarter. Pittenger & Anderson Inc. now owns 73,911 shares of the financial services provider’s stock worth $21,742,000 after purchasing an additional 3,378 shares during the last quarter. Finally, Gables Capital Management Inc. increased its position in shares of JPMorgan Chase & Co. by 5.7% during the 1st quarter. Gables Capital Management Inc. now owns 21,694 shares of the financial services provider’s stock worth $6,382,000 after purchasing an additional 1,173 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the sale, the chief financial officer directly owned 32,438 shares in the company, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the transaction, the chief operating officer directly owned 85,082 shares in the company, valued at approximately $26,326,072.44. This represents a 5.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 18,876 shares of company stock worth $5,907,051. Company insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.1%

NYSE JPM opened at $343.02 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $919.14 billion, a PE ratio of 14.70, a P/E/G ratio of 1.57 and a beta of 0.99. The stock has a 50-day simple moving average of $318.31 and a 200 day simple moving average of $310.09. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $351.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. During the same period last year, the company posted $5.07 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 10.0% on a year-over-year basis. Research analysts forecast that JPMorgan Chase & Co. will post 22.95 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.71%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on JPM. HSBC lifted their price target on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a report on Monday, May 4th. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Royal Bank Of Canada boosted their target price on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday. Morgan Stanley restated a “positive” rating and set a $370.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday. Finally, Argus raised their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Fifteen investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.92.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan reported blowout Q2 results, including record net income of $21.2 billion, with CEO Jamie Dimon saying the economy remains “close to as good as it gets.” The bank also posted strong trading and investment banking performance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income — Up 41% — and CEO Jamie Dimon Said the Economy Is “Close to as Good as It Gets.”
• Positive Sentiment: Analysts turned more bullish after earnings, with Bank of America, Keefe, Bruyette & Woods, and Truist all lifting price targets, reflecting confidence in JPMorgan’s profitability, capital flexibility, and guidance for stronger net interest income. Analyst price-target updates
• Positive Sentiment: JPMorgan raised its full-year net interest income outlook to $105.5 billion, signaling that core lending revenue remains resilient even after the Federal Reserve’s policy changes. JPMorgan Chase Just Posted 86% Growth in Equities Trading Revenue and Raised Its Full-Year Net Interest Income Guidance to $105.5 Billion
• Neutral Sentiment: JPMorgan continued to show market leadership and a path toward a possible $1 trillion valuation, helped by its scale in lending, trading, and dealmaking, but that milestone may also be encouraging some short-term profit taking after the stock’s sharp run. Dimon-led JPMorgan poised to become world’s first $1 trillion bank
• Neutral Sentiment: The bank also announced a $24 million investment in Philadelphia shipbuilding and defense manufacturing, which supports its long-term industrial finance strategy but is unlikely to move the stock materially by itself. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Some commentary focused on JPMorgan’s higher expense outlook following earnings, suggesting costs could rise faster than investors expected and tempering enthusiasm after the strong report. Its Dividend Looks Secure, But Don’t Chase JPM Stock After Q2 Earnings. Here’s Why.

About JPMorgan Chase & Co.

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.