Exchange Bank Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Exchange Bank lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,535 shares of the financial services provider’s stock after selling 81 shares during the period. JPMorgan Chase & Co. makes up approximately 2.1% of Exchange Bank’s investment portfolio, making the stock its 13th biggest position. Exchange Bank’s holdings in JPMorgan Chase & Co. were worth $2,511,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Trust Co of the South raised its position in JPMorgan Chase & Co. by 1.1% during the first quarter. Trust Co of the South now owns 4,946 shares of the financial services provider’s stock worth $991,000 after acquiring an additional 53 shares during the last quarter. PFW Advisors LLC raised its position in JPMorgan Chase & Co. by 1.1% during the first quarter. PFW Advisors LLC now owns 5,232 shares of the financial services provider’s stock worth $1,048,000 after acquiring an additional 55 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. raised its position in JPMorgan Chase & Co. by 2.0% during the first quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,837 shares of the financial services provider’s stock worth $568,000 after acquiring an additional 55 shares during the last quarter. Oarsman Capital Inc. raised its position in shares of JPMorgan Chase & Co. by 0.5% in the fourth quarter. Oarsman Capital Inc. now owns 11,008 shares of the financial services provider’s stock valued at $1,872,000 after buying an additional 59 shares during the last quarter. Finally, Curbstone Financial Management Corp raised its position in shares of JPMorgan Chase & Co. by 0.3% in the fourth quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock valued at $4,070,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Morgan Stanley cut their price objective on shares of 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. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. StockNews.com lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Finally, BMO Capital Markets cut their price objective on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a research report on Monday, April 15th. One 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $194.10.

JPMorgan Chase & Co. Price Performance

JPM opened at $197.41 on Thursday. 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 company has a 50 day moving average of $195.87 and a two-hundred day moving average of $185.44. The company has a market cap of $566.90 billion, a P/E ratio of 11.92, a P/E/G ratio of 2.66 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts expect that JPMorgan Chase & Co. will post 16.44 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 annualized dividend and a dividend yield of 2.33%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.78%.

Insider Activity

In other news, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $184.18, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Robin Leopold sold 3,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $198.86, for a total value of $596,580.00. Following the completion of the transaction, the insider now directly owns 44,113 shares in the company, valued at $8,772,311.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Dimon sold 178,222 shares of the company’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 sale, 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 three months, insiders sold 250,565 shares of company stock worth $46,962,717. 0.79% of the stock is currently owned by company 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.