Patten & Patten Inc. TN Sells 5,853 Shares of JPMorgan Chase & Co. $JPM

Patten & Patten Inc. TN decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 119,676 shares of the financial services provider’s stock after selling 5,853 shares during the period. JPMorgan Chase & Co. comprises approximately 2.3% of Patten & Patten Inc. TN’s holdings, making the stock its 6th largest position. Patten & Patten Inc. TN’s holdings in JPMorgan Chase & Co. were worth $38,562,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. acquired a new position in JPMorgan Chase & Co. during the third quarter worth $32,000. Turning Point Benefit Group Inc. acquired a new position in JPMorgan Chase & Co. during the third quarter worth $35,000. Merrithew & Thorsten Inc purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $40,000. Cresta Advisors Ltd. purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $48,000. Finally, Miller Global Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $297.93 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $798.31 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.45 and a beta of 1.03. The stock has a 50 day moving average of $299.67 and a 200 day moving average of $307.35. JPMorgan Chase & Co. has a 12 month low of $256.00 and a 12 month high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. The company had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.JPMorgan Chase & Co.’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business posted $5.07 earnings per share. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 22.43 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis 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%.

Trending Headlines about JPMorgan Chase & Co.

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

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of the sale, the chief operating officer owned 85,082 shares in the company, valued at approximately $26,326,072.44. This trade represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $295.06, for a total transaction of $127,760.98. Following the sale, the insider owned 64,920 shares of the company’s stock, valued at $19,155,295.20. This trade represents a 0.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 79,849 shares of company stock valued at $24,522,956 in the last three months. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on JPM shares. Robert W. Baird set a $295.00 price objective on JPMorgan Chase & Co. in a research note on Wednesday, April 15th. HSBC increased their price objective on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, February 24th. Piper Sandler increased their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Finally, DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $338.12.

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.