AMG National Trust Bank boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 16.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 78,306 shares of the financial services provider’s stock after buying an additional 11,144 shares during the quarter. AMG National Trust Bank’s holdings in JPMorgan Chase & Co. were worth $23,034,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Roxbury Financial LLC raised its holdings in JPMorgan Chase & Co. by 0.4% in the fourth quarter. Roxbury Financial LLC now owns 8,011 shares of the financial services provider’s stock worth $2,581,000 after purchasing an additional 31 shares in the last quarter. Collective Family Office LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.0% during the 4th quarter. Collective Family Office LLC now owns 3,339 shares of the financial services provider’s stock valued at $1,076,000 after buying an additional 32 shares in the last quarter. Essential Planning LLC. boosted its holdings in shares of JPMorgan Chase & Co. by 2.4% during the 4th quarter. Essential Planning LLC. now owns 1,399 shares of the financial services provider’s stock valued at $451,000 after buying an additional 33 shares in the last quarter. Sterling Group Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 0.8% in the 1st quarter. Sterling Group Wealth Management LLC now owns 4,020 shares of the financial services provider’s stock worth $1,183,000 after buying an additional 33 shares during the period. Finally, Spinnaker Investment Group LLC grew its position in shares of JPMorgan Chase & Co. by 0.7% in the 4th quarter. Spinnaker Investment Group LLC now owns 5,183 shares of the financial services provider’s stock worth $1,670,000 after buying an additional 34 shares during the period. 71.55% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on JPM. Robert W. Baird raised their target price on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a “neutral” rating in a research note on Wednesday. Evercore reissued an “outperform” rating and issued a $360.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. Barclays upped their price target on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday. Autonomous Res reduced their price objective on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Finally, Jefferies Financial Group set a $350.00 price objective on JPMorgan Chase & Co. in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $354.92.
JPMorgan Chase & Co. Trading Down 0.5%
JPMorgan Chase & Co. stock opened at $341.60 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $351.24. The stock has a market capitalization of $915.33 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.53 and a beta of 0.99. The business’s fifty day moving average is $319.11 and its 200 day moving average is $310.31.
JPMorgan Chase & Co. Dividend Announcement
The business 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 dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 1.8%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.71%.
Key JPMorgan Chase & Co. News
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. 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 have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
- Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
- Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
- Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
- Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon
Insider Buying and Selling at JPMorgan Chase & Co.
In other news, CFO Jeremy Barnum sold 3,022 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the transaction, the chief financial officer directly owned 32,438 shares in the company, valued at $10,036,641.58. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 value of $1,522,036.98. Following the completion of the sale, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at $26,326,072.44. The trade was a 5.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, 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. Company 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.
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