JPMorgan Chase & Co. $JPM Shares Sold by Providence First Trust Co

Providence First Trust Co reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 38.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,977 shares of the financial services provider’s stock after selling 4,360 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.8% of Providence First Trust Co’s holdings, making the stock its 29th biggest position. Providence First Trust Co’s holdings in JPMorgan Chase & Co. were worth $2,248,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Howard Capital Management Inc. boosted its stake in shares of JPMorgan Chase & Co. by 18.2% during the 4th quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider’s stock worth $8,308,000 after acquiring an additional 3,976 shares in the last quarter. Andra AP fonden boosted its stake in shares of JPMorgan Chase & Co. by 3.2% during the 3rd quarter. Andra AP fonden now owns 107,700 shares of the financial services provider’s stock worth $33,972,000 after acquiring an additional 3,300 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its stake in shares of JPMorgan Chase & Co. by 51.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider’s stock worth $2,862,000 after acquiring an additional 3,027 shares in the last quarter. Banco Santander S.A. boosted its stake in shares of JPMorgan Chase & Co. by 9.0% during the 3rd quarter. Banco Santander S.A. now owns 452,612 shares of the financial services provider’s stock worth $142,767,000 after acquiring an additional 37,550 shares in the last quarter. Finally, Brighton Jones LLC boosted its stake in shares of JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after acquiring an additional 4,841 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 0.7%

JPM opened at $297.93 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50 day simple moving average is $299.67 and its two-hundred day simple moving average is $307.32. JPMorgan Chase & Co. has a 1-year low of $256.00 and a 1-year high of $337.25. The firm has a market capitalization of $798.31 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.46 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly 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. The business had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.07 EPS. Analysts expect that JPMorgan Chase & Co. will post 22.42 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, April 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.74%.

JPMorgan Chase & Co. News Summary

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorganChase declared dividends on its Series II, OO and PP preferred stock, signaling continued capital return and financial stability. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: Reuters reported that JPMorgan’s long-running push into early-stage tech banking is paying off, with the firm now leading global technology investment banking and winning business from startup clients early in their growth cycle. JPMorgan’s bet on early-stage companies pays off in leading global tech investment banking
• Positive Sentiment: Chase continued expanding its branch network, opening 18 new branches in May as part of a multibillion-dollar expansion, which supports deposit gathering and retail growth over time. Chase Opens 18 Branches in May Amid Multibillion-Dollar Expansion

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Wells Fargo & Company lowered their target price on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday. Finally, Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Fifteen 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 has a consensus rating of “Moderate Buy” and an average price target of $338.12.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the transaction, the chief operating officer owned 85,082 shares of the company’s stock, valued at $26,326,072.44. This trade represents a 5.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 3,404 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $306.40, for a total transaction of $1,042,985.60. Following the completion of the transaction, the general counsel directly owned 61,949 shares of the company’s stock, valued at $18,981,173.60. This represents a 5.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 79,849 shares of company stock worth $24,522,956 in the last three months. Company insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Company 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.