OLD National Bancorp IN Cuts Stock Position in JPMorgan Chase & Co. $JPM

OLD National Bancorp IN lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,080 shares of the financial services provider’s stock after selling 2,596 shares during the period. JPMorgan Chase & Co. makes up about 0.5% of OLD National Bancorp IN’s investment portfolio, making the stock its 27th largest position. OLD National Bancorp IN’s holdings in JPMorgan Chase & Co. were worth $30,910,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $11,396,496,000. Cardano Risk Management B.V. raised its position in shares of JPMorgan Chase & Co. by 889.3% during the 4th quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider’s stock valued at $2,794,785,000 after buying an additional 7,796,814 shares in the last quarter. Danske Bank A S bought a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $696,885,000. American Assets Investment Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1,172.2% in the 4th quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock valued at $728,024,000 after acquiring an additional 2,081,800 shares during the last quarter. Finally, Holocene Advisors LP grew its position in JPMorgan Chase & Co. by 1,033.3% in the third quarter. Holocene Advisors LP now owns 2,155,120 shares of the financial services provider’s stock worth $679,790,000 after acquiring an additional 1,964,958 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
• Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
• Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the sale, the general counsel directly owned 40,961 shares in the company, valued at approximately $13,547,031.53. This represents a 11.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction dated 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 owned 85,082 shares in the company, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 33,623 shares of company stock valued at $10,427,835 in the last three months. Company insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.1%

Shares of NYSE JPM opened at $328.73 on Monday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $880.83 billion, a P/E ratio of 15.74, a PEG ratio of 1.53 and a beta of 1.00. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $343.45. The firm has a 50-day simple moving average of $311.44 and a two-hundred day simple moving average of $308.38.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The business had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. During the same quarter in the previous year, the business earned $5.07 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Research analysts anticipate that JPMorgan Chase & Co. will post 22.43 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced 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. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.74%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. The Goldman Sachs Group set a $361.00 price objective on JPMorgan Chase & Co. in a research note on Tuesday, April 14th. Jefferies Financial Group reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Thursday. Piper Sandler boosted their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Barclays restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Finally, Zacks Research downgraded JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $339.58.

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.