Cardinal Capital Management Purchases 2,642 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Cardinal Capital Management increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,445 shares of the financial services provider’s stock after buying an additional 2,642 shares during the quarter. JPMorgan Chase & Co. accounts for 1.9% of Cardinal Capital Management’s portfolio, making the stock its 9th biggest holding. Cardinal Capital Management’s holdings in JPMorgan Chase & Co. were worth $11,506,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in JPM. Stone House Investment Management LLC grew its position in JPMorgan Chase & Co. by 132.8% during the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after buying an additional 89 shares in the last quarter. Bare Financial Services Inc acquired a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $35,000. Partnership Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $36,000. Stuart Chaussee & Associates Inc. acquired a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $40,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $40,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on JPM. Royal Bank of Canada reaffirmed an “outperform” rating and set a $211.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, May 21st. Oppenheimer decreased their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a report on Monday, April 15th. Morgan Stanley decreased their price objective on JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, May 21st. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Finally, BMO Capital Markets cut their target price on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $194.10.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $202.34 on Friday. The firm has a fifty day moving average of $196.91 and a two-hundred day moving average of $185.92. The stock has a market capitalization of $581.05 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 2.65 and a beta of 1.12. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $205.88. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.92 and a current ratio of 0.92.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.78%.

Insider Activity

In other news, 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 value of $32,824,927.96. Following the completion of the transaction, the chief executive officer now owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total value of $984,853.04. Following the completion of the transaction, the insider now owns 217,351 shares of the company’s stock, valued at approximately $42,087,847.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 of the company’s stock, valued at approximately $48,708,426.98. The disclosure for this sale can be found here. Insiders sold 250,565 shares of company stock valued at $46,962,717 in the last quarter. Company insiders own 0.79% of the company’s stock.

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.