First Financial Bank Trust Division trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,255 shares of the financial services provider’s stock after selling 12,669 shares during the period. JPMorgan Chase & Co. comprises about 1.7% of First Financial Bank Trust Division’s holdings, making the stock its 17th biggest position. First Financial Bank Trust Division’s holdings in JPMorgan Chase & Co. were worth $10,874,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Smart Portfolios LLC grew its stake in JPMorgan Chase & Co. by 29.6% in the 4th quarter. Smart Portfolios LLC now owns 499 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 114 shares during the period. Contravisory Investment Management Inc. grew its stake in JPMorgan Chase & Co. by 188.3% in the 4th quarter. Contravisory Investment Management Inc. now owns 542 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 354 shares during the period. Semmax Financial Advisors Inc. purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $56,000. Bogart Wealth LLC grew its stake in JPMorgan Chase & Co. by 19.0% in the 4th quarter. Bogart Wealth LLC now owns 625 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 100 shares during the period. Finally, D Orazio & Associates Inc. grew its stake in JPMorgan Chase & Co. by 62.6% in the 4th quarter. D Orazio & Associates Inc. now owns 779 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 300 shares during the period. Institutional investors own 71.43% of the company’s stock.
A number of equities analysts recently issued reports on JPM shares. BMO Capital Markets increased their target price on Citigroup from $92.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Morgan Stanley cut their target price on Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, April 15th. Goldman Sachs Group cut Cadence Bancorp from a “buy” rating to a “neutral” rating and set a $18.00 target price on the stock. in a report on Monday. Deutsche Bank set a $142.00 target price on MCCORMICK & CO /SH and gave the stock a “hold” rating in a report on Friday, June 28th. Finally, Credit Suisse Group increased their target price on JPMorgan Chase & Co. from $128.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $122.94.
JPM stock traded up $2.09 during mid-day trading on Tuesday, reaching $116.36. 12,749,663 shares of the company traded hands, compared to its average volume of 12,553,433. The company has a quick ratio of 1.00, a current ratio of 0.97 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $373.27 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.63 and a beta of 1.16. JPMorgan Chase & Co. has a 52-week low of $91.11 and a 52-week high of $119.24. The company has a fifty day moving average price of $111.59.
JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.32. The business had revenue of $28.83 billion during the quarter, compared to analyst estimates of $28.52 billion. JPMorgan Chase & Co. had a return on equity of 14.41% and a net margin of 24.73%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 EPS. Analysts expect that JPMorgan Chase & Co. will post 9.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Wednesday, July 3rd. JPMorgan Chase & Co.’s payout ratio is presently 35.56%.
In other news, EVP Peter Scher sold 10,816 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $115.00, for a total transaction of $1,243,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lori A. Beer sold 13,341 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $114.28, for a total value of $1,524,609.48. Following the sale, the insider now owns 10,130 shares of the company’s stock, valued at approximately $1,157,656.40. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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