JPMorgan Chase & Co. (NYSE:JPM) is Bank of The West’s 7th Largest Position

Posted by on Apr 22nd, 2023

Bank of The West cut its holdings in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 134,457 shares of the financial services provider’s stock after selling 1,539 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.1% of Bank of The West’s investment portfolio, making the stock its 7th largest position. Bank of The West’s holdings in JPMorgan Chase & Co. were worth $18,031,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Retirement Financial Solutions LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $26,000. Creative Capital Management Investments LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth $30,000. Bellwether Advisors LLC boosted its stake in JPMorgan Chase & Co. by 119.1% during the third quarter. Bellwether Advisors LLC now owns 493 shares of the financial services provider’s stock worth $51,000 after buying an additional 268 shares during the period. Delos Wealth Advisors LLC boosted its stake in JPMorgan Chase & Co. by 24.4% during the third quarter. Delos Wealth Advisors LLC now owns 505 shares of the financial services provider’s stock worth $53,000 after buying an additional 99 shares during the period. Finally, VitalStone Financial LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth $58,000. 67.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on JPM shares. Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a research note on Monday, April 17th. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. Bank of America lifted their price objective on shares of JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, April 17th. Oppenheimer lifted their price objective on shares of JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a research note on Monday, April 17th. Finally, StockNews.com assumed coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, March 16th. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.94.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $140.54 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.85 and a quick ratio of 0.84. The business has a 50-day moving average price of $134.83 and a 200 day moving average price of $132.09. The company has a market capitalization of $411.99 billion, a P/E ratio of 10.37, a PEG ratio of 2.06 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $144.34.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.69. The firm had revenue of $38.35 billion during the quarter, compared to the consensus estimate of $35.77 billion. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.63 earnings per share. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 13.76 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Shareholders of record on Thursday, April 6th will be issued a $1.00 dividend. The ex-dividend date is Wednesday, April 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.85%. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.52%.

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.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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