Wesbanco Bank Inc. lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 296,968 shares of the financial services provider’s stock after selling 12,145 shares during the quarter. JPMorgan Chase & Co. comprises about 2.6% of Wesbanco Bank Inc.’s investment portfolio, making the stock its 6th biggest holding. Wesbanco Bank Inc.’s holdings in JPMorgan Chase & Co. were worth $95,689,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. acquired a new position in JPMorgan Chase & Co. during the third quarter worth about $32,000. Turning Point Benefit Group Inc. acquired a new position in JPMorgan Chase & Co. during the third quarter worth about $35,000. Cresta Advisors Ltd. acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $48,000. Miller Global Investments LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $52,000. Finally, Collier Financial acquired a new position in JPMorgan Chase & Co. during the third quarter worth about $60,000. Institutional investors and hedge funds own 71.55% of the company’s stock.
Insider Transactions at JPMorgan Chase & Co.
In related news, COO Jennifer Piepszak sold 4,919 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the sale, the chief operating officer directly owned 85,082 shares in the company, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $295.06, for a total transaction of $127,760.98. Following the completion of the sale, the insider owned 64,920 shares of the company’s stock, valued at approximately $19,155,295.20. The trade was a 0.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 79,849 shares of company stock valued at $24,522,956 in the last quarter. Insiders own 0.41% of the company’s stock.
Trending Headlines about JPMorgan Chase & Co.
- 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
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on JPM shares. Argus boosted their price objective on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Barclays reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, May 6th. UBS Group cut their price objective on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research report on Wednesday, May 6th. Finally, Autonomous Res cut their price objective on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Fifteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $338.12.
Check Out Our Latest Stock Report on JPM
JPMorgan Chase & Co. Stock Performance
NYSE:JPM opened at $297.93 on Monday. The firm has a 50 day simple moving average of $299.67 and a 200-day simple moving average of $307.35. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $798.31 billion, a PE ratio of 14.27, a P/E/G ratio of 1.45 and a beta of 1.03. JPMorgan Chase & Co. has a 1-year low of $256.00 and a 1-year high of $337.25.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same period in the previous year, the firm earned $5.07 earnings per share. JPMorgan Chase & Co.’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts expect that JPMorgan Chase & Co. will post 22.43 EPS for the current year.
JPMorgan Chase & Co. Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were issued a $1.50 dividend. 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 payout ratio is presently 28.74%.
About JPMorgan Chase & Co.
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.
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