First National Bank of South Miami Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Mar 22nd, 2023

First National Bank of South Miami lessened its stake in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,263 shares of the financial services provider’s stock after selling 195 shares during the period. JPMorgan Chase & Co. comprises approximately 1.1% of First National Bank of South Miami’s investment portfolio, making the stock its 18th largest holding. First National Bank of South Miami’s holdings in JPMorgan Chase & Co. were worth $1,510,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Grayhawk Investment Strategies Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at approximately $32,000. HBC Financial Services PLLC lifted its position in shares of JPMorgan Chase & Co. by 61.2% during the 2nd quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock valued at $27,000 after buying an additional 90 shares in the last quarter. Horizons Wealth Management acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $39,000. New Millennium Group LLC acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $39,000. Finally, Bellwether Advisors LLC raised its stake in JPMorgan Chase & Co. by 119.1% in the 3rd quarter. Bellwether Advisors LLC now owns 493 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 268 shares during the last quarter. Hedge funds and other institutional investors own 67.89% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Mellody L. Hobson bought 375 shares of the stock in a transaction that occurred on Thursday, January 19th. The stock was bought at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the acquisition, the director now directly owns 22,040 shares of the company’s stock, valued at approximately $2,965,041.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Mellody L. Hobson bought 375 shares of the stock in a transaction that occurred on Thursday, January 19th. The stock was bought at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the acquisition, the director now directly owns 22,040 shares of the company’s stock, valued at approximately $2,965,041.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Peter Scher sold 4,399 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $140.32, for a total value of $617,267.68. Following the transaction, the insider now owns 36,369 shares of the company’s stock, valued at $5,103,298.08. The disclosure for this sale can be found here. Insiders sold 37,887 shares of company stock worth $5,315,762 in the last three months. 0.79% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on JPM shares. Barclays increased their price objective on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a research note on Tuesday, January 3rd. Credit Suisse Group set a $155.00 price objective on JPMorgan Chase & Co. in a research note on Monday, February 27th. Piper Sandler increased their price objective on JPMorgan Chase & Co. from $150.00 to $157.00 in a research note on Tuesday, January 17th. UBS Group set a $156.00 price objective on JPMorgan Chase & Co. in a research note on Friday, January 13th. Finally, Wells Fargo & Company raised JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $148.00 to $155.00 in a research note on Monday, March 13th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $150.78.

JPMorgan Chase & Co. Stock Up 2.7 %

Shares of NYSE:JPM opened at $130.55 on Wednesday. The business has a 50-day moving average price of $138.70 and a 200 day moving average price of $129.63. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $384.25 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.95 and a beta of 1.12. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $144.34.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings data on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.46. The firm had revenue of $34.55 billion during the quarter, compared to the consensus estimate of $34.23 billion. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period last year, the company earned $3.33 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 12.9 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.06%. JPMorgan Chase & Co.’s payout ratio is 33.11%.

JPMorgan Chase & Co. Company Profile

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JPMorgan Chase & Co is a financial holding company, which engages in providing 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.