JPMorgan Chase & Co. (NYSE:JPM) is Washington Trust Bank’s 6th Largest Position

Washington Trust Bank lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,301 shares of the financial services provider’s stock after buying an additional 87 shares during the quarter. JPMorgan Chase & Co. makes up about 2.4% of Washington Trust Bank’s investment portfolio, making the stock its 6th largest holding. Washington Trust Bank’s holdings in JPMorgan Chase & Co. were worth $24,113,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in JPMorgan Chase & Co. by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after acquiring an additional 876,417 shares in the last quarter. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $8,310,884,000. Northern Trust Corp lifted its position in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. Bank of New York Mellon Corp grew its stake in JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock worth $6,083,723,000 after purchasing an additional 454,226 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the transaction, the chief operating officer owned 68,583 shares of the company’s stock, valued at approximately $17,197,873.08. This trade represents a 8.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the director directly owned 91,539 shares of the company’s stock, valued at approximately $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock valued at $18,060,015 over the last three months. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

JPM opened at $286.78 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The business’s 50 day moving average is $270.98 and its 200-day moving average is $256.39. The stock has a market cap of $796.99 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS 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 period last year, the firm earned $4.44 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date of this dividend 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 27.49%.

Analysts Set New Price Targets

A number of research analysts have commented on JPM shares. TD Securities reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Keefe, Bruyette & Woods upgraded JPMorgan Chase & Co. from a “market perform” rating to an “outperform” rating and set a $327.00 price objective on the stock in a research note on Wednesday. Morgan Stanley set a $240.00 target price on shares of JPMorgan Chase & Co. and gave the company an “equal weight” rating in a research note on Monday, July 7th. UBS Group increased their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Finally, Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target for the company. in a report on Friday, June 27th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $284.42.

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.