First Financial Bank Trust Division lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.1% in the second quarter, HoldingsChannel.com reports. The fund owned 72,092 shares of the financial services provider’s stock after selling 2,332 shares during the period. JPMorgan Chase & Co. comprises about 1.7% of First Financial Bank Trust Division’s portfolio, making the stock its 16th biggest holding. First Financial Bank Trust Division’s holdings in JPMorgan Chase & Co. were worth $23,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of the company. Timmons Wealth Management LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter worth about $27,000. MBM Wealth Consultants LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $32,000. Osbon Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $35,000. Finally, Turning Point Benefit Group Inc. bought a new stake in JPMorgan Chase & Co. in the third quarter valued at approximately $35,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.
JPMorgan Chase & Co. Trading Up 0.2%
Shares of JPMorgan Chase & Co. stock opened at $352.60 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $359.30. The company has a market capitalization of $944.79 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 1.45 and a beta of 0.99. The firm’s 50-day moving average price is $329.73 and its two-hundred day moving average price is $312.08.
JPMorgan Chase & Co. Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 6th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is currently 25.71%.
Insider Buying and Selling
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,468 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the sale, the general counsel directly owned 46,428 shares in the company, valued at $13,940,935.56. This represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms recently weighed in on JPM. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Daiwa Securities Group cut their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $418.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a report on Wednesday, July 22nd. Finally, Weiss Ratings lowered shares of JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $359.33.
View Our Latest Analysis on JPMorgan Chase & Co.
Trending Headlines about JPMorgan Chase & Co.
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: JPMorgan announced plans to deploy more than $750 billion through 2035 through its American Dream Initiative—nearly 40% more housing capital than during the prior decade. The program targets financing for 1 million affordable housing units and assistance for 500,000 homebuyers, including 200,000 first-time buyers. JPMorganChase Doubles Down on Housing
- Positive Sentiment: The bank plans to increase mortgage lending by more than 40% and hire 850 Home Lending Advisors. Investors may view the expansion as a meaningful growth opportunity if housing supply improves and demand for mortgages, refinancing and affordable-housing finance strengthens. JPMorgan Stock Rises as Housing Plan Unfolds
- Positive Sentiment: Financial stocks advanced broadly, with the NYSE Financial Index rising 0.6%, providing a favorable sector backdrop for JPM. The move follows JPMorgan’s recent strong quarterly results, which exceeded analyst expectations for earnings and revenue. Sector Update: Financial Stocks Advance Late Afternoon
- Neutral Sentiment: JPMorgan economists reportedly brought forward their expectation for a possible year-end Federal Reserve rate increase, citing concerns about Fed credibility. Higher rates could support interest income but also pressure loan demand, bond values and credit quality. JPMorgan Rate Forecast
- Negative Sentiment: Commentary on the housing push warns that the large lending pipeline must pass a profitability test. The scale of the commitment could expose JPMorgan to margin pressure, housing-cycle risk and higher credit losses if returns do not justify the additional capital deployment. JPMorgan Makes Massive Push Into American Housing
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.
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