Gibbs Wealth Management Purchases 9,894 Shares of JPMorgan Chase & Co. $JPM

Gibbs Wealth Management boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 187.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,177 shares of the financial services provider’s stock after acquiring an additional 9,894 shares during the quarter. Gibbs Wealth Management’s holdings in JPMorgan Chase & Co. were worth $4,467,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Timmons Wealth Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $27,000. MBM Wealth Consultants LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $32,000. Osbon Capital Management LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $35,000. Finally, Turning Point Benefit Group Inc. purchased a new position in shares of JPMorgan Chase & Co. during the third quarter worth approximately $35,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.1%

Shares of NYSE JPM opened at $352.88 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $353.37. The firm’s fifty day moving average is $323.74 and its 200 day moving average is $310.97. The company has a market cap of $945.55 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.47 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.55. The business had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.96 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 23.97 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is 25.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on JPM shares. Citigroup boosted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, May 12th. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Truist Financial upped their price target on shares of JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. Finally, Daiwa Securities Group reduced their price objective on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $358.67.

More JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan continues to draw favorable analyst attention, with multiple reports saying it remains a strong long-term and momentum pick for investors. Wall Street Analysts Think JPMorgan Chase & Co. (JPM) Is a Good Investment: Is It?
• Positive Sentiment: Recent commentary highlighted JPMorgan’s earnings strength and AI-related growth themes in banking, which supports the view that the company can keep outperforming peers. JPMorgan Sees AI-Powered Growth For Banks; Stock Pops Into Buy Zone After Earnings Growth
• Positive Sentiment: JPMorgan was also cited as a top momentum candidate and long-term stock pick by Zacks, adding to the bullish sentiment around the shares. Are You Looking for a Top Momentum Pick? Why JPMorgan Chase & Co. (JPM) is a Great Choice
• Neutral Sentiment: The bank completed $9 billion in debt offerings, which is a routine capital-markets transaction that may help funding flexibility but is not clearly a major near-term catalyst. JPMorgan Chase Raises $9 Billion Through Debt Offerings
• Neutral Sentiment: JPMorgan’s broader market commentary on oil, Iran-related disruption, and global risks reflects its macro views, but these notes are more informative than directly stock-moving for JPM itself. Here’s what each additional month of Iran-conflict disruption means for oil prices
• Negative Sentiment: House lawmakers questioned former JPMorgan executive Jes Staley over Epstein-related ties, which keeps reputational and legal-overhang concerns in the background for the bank. House lawmakers grill former JPMorgan executive Jes Staley over Epstein ties

Insider Activity

In other news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the sale, the chief financial officer directly owned 32,438 shares in the company, valued at approximately $10,036,641.58. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was 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 $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 18,876 shares of company stock valued at $5,907,051. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Profile

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.