WASHINGTON TRUST Co increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.5% in the 4th quarter, HoldingsChannel reports. The firm owned 233,482 shares of the financial services provider’s stock after purchasing an additional 3,427 shares during the period. JPMorgan Chase & Co. comprises approximately 2.5% of WASHINGTON TRUST Co’s holdings, making the stock its 12th largest position. WASHINGTON TRUST Co’s holdings in JPMorgan Chase & Co. were worth $75,233,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Turning Point Benefit Group Inc. purchased a new position in JPMorgan Chase & Co. during the third quarter worth about $35,000. Merrithew & Thorsten Inc purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth about $40,000. WHI TRUST Co LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth about $45,000. Cresta Advisors Ltd. acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $48,000. Finally, Miller Global Investments LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $52,000. 71.55% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on JPM shares. HSBC upped their target price on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Argus upped their target price on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Truist Financial upped their target price on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a “hold” rating in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, February 24th. Finally, Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Fourteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $339.08.
JPMorgan Chase & Co. Stock Up 0.2%
Shares of NYSE JPM opened at $312.95 on Monday. JPMorgan Chase & Co. has a 1 year low of $262.71 and a 1 year high of $337.25. The firm’s 50 day moving average price is $303.89 and its 200 day moving average price is $306.53. The firm has a market cap of $838.54 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.52 and a beta of 1.00. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. During the same quarter last year, the business earned $5.07 earnings per share. JPMorgan Chase & Co.’s revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.
JPMorgan Chase & Co. Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.74%.
Key Stories Impacting JPMorgan Chase & Co.
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: Jamie Dimon is personally helping pitch SpaceX’s blockbuster IPO to thousands of JPMorgan’s wealthy clients, highlighting the bank’s influence in capital markets and potentially boosting fee income. Reuters article on Dimon and SpaceX IPO roadshow
- Positive Sentiment: The bank is backing a shared tokenized deposit network with other major U.S. lenders, a move that could strengthen JPMorgan’s payments and digital-asset infrastructure position versus stablecoin rivals. WSJ article on tokenized deposit system
- Positive Sentiment: Jim Cramer publicly called JPMorgan “the best bank in the world” and said investors can “buy it and put it away,” reinforcing a constructive market view of the stock. Yahoo Finance article on Jim Cramer
- Neutral Sentiment: News that JPMorgan is using its branch network and client base to promote SpaceX underscores its scale and wealth-management reach, but the impact on near-term earnings is uncertain. Benzinga article on SpaceX IPO promotion
- Neutral Sentiment: Separate headlines noted JPMorgan is evaluating acquisition opportunities and may have $10 billion to $20 billion available for a deal, which could be accretive but also adds execution risk. Yahoo Finance article on acquisition opportunities
- Negative Sentiment: JPMorgan also warned that the crypto industry’s CLARITY Act has a narrowing path to passage, which could slow regulatory progress for digital-asset businesses. Benzinga article on CLARITY Act timing
Insider Activity at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 5,611 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total transaction of $1,720,052.05. Following the transaction, the chief financial officer owned 35,460 shares of the company’s stock, valued at $10,870,263. This trade represents a 13.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $295.06, for a total transaction of $127,760.98. Following the transaction, the insider directly owned 64,920 shares in the company, valued at approximately $19,155,295.20. This represents a 0.66% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 28,589 shares of company stock worth $8,747,496. Company insiders own 0.41% of the company’s stock.
JPMorgan Chase & Co. 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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