TrustBank Acquires Shares of 3,221 JPMorgan Chase & Co. $JPM

TrustBank acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,221 shares of the financial services provider’s stock, valued at approximately $1,038,000. JPMorgan Chase & Co. accounts for 0.4% of TrustBank’s holdings, making the stock its 29th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after purchasing an additional 4,841 shares during the period. Acorns Advisers LLC boosted its holdings in JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 100 shares during the period. Ignite Planners LLC boosted its holdings in JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock valued at $3,185,000 after purchasing an additional 78 shares during the period. Jump Financial LLC bought a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at $1,475,000. Finally, Betterment LLC boosted its holdings in JPMorgan Chase & Co. by 27.5% in the 2nd quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock valued at $571,000 after purchasing an additional 425 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: Jamie Dimon is personally promoting SpaceX’s expected blockbuster IPO to 2,500 ultra-wealthy JPMorgan clients, highlighting JPMorgan’s ability to win marquee mandates and generate advisory and placement fees. Reuters article on Dimon discussing SpaceX IPO roadshow
• Positive Sentiment: Reports say JPMorgan is also looking at acquisition opportunities, with CEO Jamie Dimon previously suggesting the bank could deploy $10 billion to $20 billion for a deal, which could support growth if executed well. Yahoo Finance article on acquisition opportunities
• Neutral Sentiment: JPMorgan and other major banks are planning a tokenized deposit system to compete with stablecoins and crypto firms, a longer-term strategic move that could help defend the payments business but is not an immediate earnings driver. WSJ article on tokenized deposit system
• Neutral Sentiment: JPMorgan disclosed that some affiliated entities exited a substantial holder position in PLS Group and increased a stake in a2 Milk, but these are portfolio actions by affiliates and are unlikely to move JPMorgan’s shares meaningfully. TipRanks article on PLS Group filing
• Negative Sentiment: Some commentary from JPMorgan has warned that the crypto-focused CLARITY Act faces a narrow path to passage, underscoring ongoing policy uncertainty in an area the bank is watching closely. Benzinga article on CLARITY Act timing

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 433 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $295.06, for a total value of $127,760.98. Following the transaction, the insider owned 64,920 shares of the company’s stock, valued at approximately $19,155,295.20. This trade represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeremy Barnum sold 5,611 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total transaction of $1,720,052.05. Following the completion of the transaction, the chief financial officer directly owned 35,460 shares in the company, valued at $10,870,263. This trade represents a 13.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,589 shares of company stock worth $8,747,496 over the last quarter. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JPM. Autonomous Res dropped 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 note on Monday, April 6th. Jefferies Financial Group restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Wells Fargo & Company dropped their price objective on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th. Barclays restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Finally, Evercore increased their price objective on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Fourteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $339.08.

JPMorgan Chase & Co. Trading Up 3.4%

JPM opened at $310.99 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $833.29 billion, a PE ratio of 14.89, a PEG ratio of 1.47 and a beta of 1.00. JPMorgan Chase & Co. has a 1-year low of $260.31 and a 1-year high of $337.25. The firm has a 50-day moving average price of $303.54 and a two-hundred day moving average price of $306.44.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. The firm had revenue of $50.54 billion during the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the company posted $5.07 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.74%.

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.