JPMorgan Chase & Co. (NYSE:JPM) Stake Lifted by Wesbanco Bank Inc.

Posted by Defense World Staff on Mar 28th, 2023

Wesbanco Bank Inc. boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 303,678 shares of the financial services provider’s stock after purchasing an additional 20,940 shares during the period. JPMorgan Chase & Co. makes up 1.8% of Wesbanco Bank Inc.’s investment portfolio, making the stock its 8th largest holding. Wesbanco Bank Inc.’s holdings in JPMorgan Chase & Co. were worth $40,723,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of JPMorgan Chase & Co. by 23.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 31,667,210 shares of the financial services provider’s stock valued at $3,566,044,000 after acquiring an additional 5,978,393 shares in the last quarter. Public Investment Fund purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $433,667,000. Barclays PLC boosted its holdings in shares of JPMorgan Chase & Co. by 77.8% in the third quarter. Barclays PLC now owns 8,071,119 shares of the financial services provider’s stock valued at $843,433,000 after acquiring an additional 3,531,637 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 1.1% in the third quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock valued at $28,480,408,000 after acquiring an additional 2,918,554 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of JPMorgan Chase & Co. by 244.8% in the second quarter. Renaissance Technologies LLC now owns 3,931,843 shares of the financial services provider’s stock valued at $442,765,000 after acquiring an additional 2,791,457 shares in the last quarter. 67.89% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Vice Chairman Peter Scher sold 4,399 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $140.32, for a total value of $617,267.68. Following the completion of the transaction, the insider now owns 36,369 shares of the company’s stock, valued at $5,103,298.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, General Counsel Stacey Friedman sold 23,148 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $140.31, for a total value of $3,247,895.88. Following the completion of the sale, the general counsel now directly owns 48,311 shares in the company, valued at $6,778,516.41. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Peter Scher sold 4,399 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $140.32, for a total transaction of $617,267.68. Following the completion of the sale, 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 a total of 37,887 shares of company stock valued at $5,315,762 over the last 90 days. Insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on JPM shares. Wells Fargo & Company raised shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $148.00 to $155.00 in a report on Monday, March 13th. Barclays raised their price objective on shares of 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 shares of JPMorgan Chase & Co. in a research note on Monday, February 27th. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a research note on Tuesday, January 17th. Finally, UBS Group set a $156.00 price objective on shares of JPMorgan Chase & Co. in a research note on Friday, January 13th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.28.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $128.49 on Tuesday. 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 stock has a market cap of $378.19 billion, a P/E ratio of 10.64, a PEG ratio of 1.94 and a beta of 1.12. The company has a 50-day moving average of $137.54 and a two-hundred day moving average of $129.95. 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 posted its quarterly earnings data on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.46. The business had revenue of $34.55 billion during the quarter, compared to analyst estimates of $34.23 billion. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The company’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.33 earnings per share. As a group, research analysts predict that JPMorgan Chase & Co. will post 12.88 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 33.11%.

About JPMorgan Chase & Co.

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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.