Simmons Bank Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Simmons Bank trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,205 shares of the financial services provider’s stock after selling 1,038 shares during the quarter. JPMorgan Chase & Co. makes up about 1.2% of Simmons Bank’s portfolio, making the stock its 16th biggest holding. Simmons Bank’s holdings in JPMorgan Chase & Co. were worth $15,259,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in JPM. Blue Bell Private Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock valued at $622,000 after purchasing an additional 38 shares during the period. Hurlow Wealth Management Group Inc. grew its stake in JPMorgan Chase & Co. by 0.7% in the 4th quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider’s stock valued at $1,328,000 after purchasing an additional 40 shares during the period. Wimmer Associates 1 LLC grew its stake in JPMorgan Chase & Co. by 1.0% in the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider’s stock valued at $986,000 after purchasing an additional 40 shares during the period. Twin Lakes Capital Management LLC grew its stake in JPMorgan Chase & Co. by 0.3% in the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider’s stock valued at $3,340,000 after purchasing an additional 40 shares during the period. Finally, Rockbridge Investment Management LCC grew its stake in JPMorgan Chase & Co. by 2.3% in the 4th quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider’s stock valued at $441,000 after purchasing an additional 41 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the sale, the chief financial officer owned 18,017 shares of the company’s stock, valued at $4,518,123.09. This trade represents a 68.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jennifer Piepszak sold 6,128 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares in the company, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JPM. KGI Securities began coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a “hold” rating for the company. Piper Sandler reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the company an “outperform” rating in a research report on Monday. TD Cowen initiated coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a “buy” rating and a $305.00 price target on the stock. Finally, Truist Financial upped their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a “hold” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $284.42.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $286.78 on Friday. The stock’s 50-day simple moving average is $270.98 and its 200 day simple moving average is $256.29. The stock has a market capitalization of $796.99 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same quarter last year, the firm posted $4.44 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.95%. JPMorgan Chase & Co.’s payout ratio is currently 27.49%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.