JPMorgan Chase & Co. (NYSE:JPM) Shares Acquired by BankPlus Trust Department

BankPlus Trust Department lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 13,197 shares of the financial services provider’s stock after purchasing an additional 421 shares during the period. JPMorgan Chase & Co. comprises approximately 1.1% of BankPlus Trust Department’s portfolio, making the stock its 13th largest holding. BankPlus Trust Department’s holdings in JPMorgan Chase & Co. were worth $3,237,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Redwood Park Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $29,000. Curat Global LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter worth about $33,000. Sellwood Investment Partners LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $34,000. Investment Counsel Co. of Nevada acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $37,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $43,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of analyst reports. Bank of America boosted their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday. Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the company an “outperform” rating in a report on Monday, June 30th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $288.68.

JPMorgan Chase & Co. Stock Up 0.5%

JPM stock opened at $291.22 on Friday. The company has a fifty day moving average price of $274.67 and a 200 day moving average price of $257.92. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $296.40. The company has a market cap of $809.33 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 2.53 and a beta of 1.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period last year, the company earned $6.12 earnings per share. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.73%.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares of the company’s stock, valued at $18,269,422.47. This trade represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction on 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 directly owned 18,017 shares of the company’s stock, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 in the last ninety days. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Profile

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.