JPMorgan Chase & Co. (NYSE:JPM) Stock Position Lowered by Washington Trust Bank

Washington Trust Bank lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,214 shares of the financial services provider’s stock after selling 6,645 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.3% of Washington Trust Bank’s investment portfolio, making the stock its 11th largest position. Washington Trust Bank’s holdings in JPMorgan Chase & Co. were worth $23,543,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Midwest Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $43,000. Legacy Investment Solutions LLC acquired a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth $45,000. Collier Financial acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $45,000. Lowe Wealth Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 34.0% during the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 51 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $50,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $248.35 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $694.41 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25. The company has a 50 day moving average price of $257.88 and a two-hundred day moving average price of $240.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. The business had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.04 EPS. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is 28.37%.

Insider Activity

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now owns 158,381 shares of the company’s stock, valued at $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the transaction, the insider now directly owns 49,127 shares in the company, valued at approximately $12,130,438.84. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,848 shares of company stock valued at $19,987,908. Insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on JPM shares. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research note on Friday, January 3rd. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Finally, UBS Group increased their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $252.89.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.