Mechanics Bank Trust Department Buys 116 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Mechanics Bank Trust Department boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 38,750 shares of the financial services provider’s stock after buying an additional 116 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.1% of Mechanics Bank Trust Department’s investment portfolio, making the stock its 29th biggest holding. Mechanics Bank Trust Department’s holdings in JPMorgan Chase & Co. were worth $7,762,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in JPM. Wellington Wealth Strategies LLC. purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth $1,145,000. Etfidea LLC raised its stake in JPMorgan Chase & Co. by 5.4% in the fourth quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock valued at $329,000 after buying an additional 100 shares during the last quarter. Cooper Financial Group boosted its stake in JPMorgan Chase & Co. by 12.8% in the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock worth $1,741,000 after purchasing an additional 984 shares in the last quarter. Sutton Place Investors LLC increased its position in shares of JPMorgan Chase & Co. by 179.5% in the 4th quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock valued at $2,228,000 after acquiring an additional 8,412 shares during the period. Finally, Spartan Planning & Wealth Management increased its holdings in shares of JPMorgan Chase & Co. by 257.3% in the fourth quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 2,722 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $198.14 on Wednesday. The stock has a market capitalization of $568.99 billion, a PE ratio of 11.96, a P/E/G ratio of 2.67 and a beta of 1.12. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $205.88. The firm has a 50 day moving average of $195.87 and a two-hundred day moving average of $185.44.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. The company had revenue of $41.93 billion during the quarter, compared to the consensus estimate of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. On average, research analysts predict that JPMorgan Chase & Co. will post 16.44 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BMO Capital Markets lowered their price target on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a report on Monday, April 15th. Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 21st. Morgan Stanley dropped their price target on JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, May 21st. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.10.

Insiders Place Their Bets

In other news, CEO James Dimon sold 178,222 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the sale, the chief executive officer now owns 264,461 shares in the company, valued at $48,708,426.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total value of $984,853.04. Following the transaction, the insider now directly owns 217,351 shares in the company, valued at approximately $42,087,847.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Dimon sold 178,222 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the completion of the transaction, the chief executive officer now directly owns 264,461 shares in the company, valued at $48,708,426.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 250,565 shares of company stock valued at $46,962,717. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Company Profile

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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.