JPMorgan Chase & Co. (NYSE:JPM) Stock Position Boosted by Thomasville National Bank

Posted by Defense World Staff on Jun 21st, 2023

Thomasville National Bank lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 1.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 199,480 shares of the financial services provider’s stock after acquiring an additional 2,442 shares during the period. JPMorgan Chase & Co. accounts for about 2.7% of Thomasville National Bank’s holdings, making the stock its 8th biggest position. Thomasville National Bank’s holdings in JPMorgan Chase & Co. were worth $25,994,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its position in shares of JPMorgan Chase & Co. by 11.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 336,522 shares of the financial services provider’s stock worth $45,128,000 after acquiring an additional 34,068 shares during the last quarter. Argus Investors Counsel Inc. grew its position in shares of JPMorgan Chase & Co. by 0.6% during the fourth quarter. Argus Investors Counsel Inc. now owns 24,284 shares of the financial services provider’s stock worth $3,256,000 after acquiring an additional 149 shares during the last quarter. Hixon Zuercher LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.8% during the fourth quarter. Hixon Zuercher LLC now owns 34,276 shares of the financial services provider’s stock worth $4,596,000 after purchasing an additional 264 shares during the period. Athena Investment Management lifted its holdings in shares of JPMorgan Chase & Co. by 0.9% during the fourth quarter. Athena Investment Management now owns 28,247 shares of the financial services provider’s stock worth $3,788,000 after purchasing an additional 244 shares during the period. Finally, Watershed Private Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $419,000. 70.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Daniel E. Pinto sold 113,640 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $135.93, for a total value of $15,447,085.20. Following the completion of the transaction, the chief executive officer now owns 566,665 shares of the company’s stock, valued at approximately $77,026,773.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Daniel E. Pinto sold 113,640 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $135.93, for a total value of $15,447,085.20. Following the completion of the transaction, the chief executive officer now owns 566,665 shares of the company’s stock, valued at approximately $77,026,773.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ashley Bacon sold 16,766 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $135.00, for a total transaction of $2,263,410.00. Following the completion of the transaction, the insider now directly owns 195,356 shares of the company’s stock, valued at approximately $26,373,060. The disclosure for this sale can be found here. Insiders have sold 145,861 shares of company stock worth $19,858,275 in the last three months. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on JPM. StockNews.com began coverage on JPMorgan Chase & Co. in a report on Thursday, May 18th. They set a “hold” rating for the company. Evercore ISI decreased their price target on JPMorgan Chase & Co. from $155.00 to $151.00 in a report on Friday, May 12th. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a report on Monday, April 17th. Bank of America increased their price target on JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, April 17th. Finally, Odeon Capital Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Monday, May 1st. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $157.65.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $142.53 on Wednesday. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $144.34. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm’s 50-day simple moving average is $138.22 and its 200 day simple moving average is $136.35. The firm has a market capitalization of $416.51 billion, a PE ratio of 10.52, a P/E/G ratio of 2.00 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.41 by $0.69. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The business had revenue of $38.35 billion for the quarter, compared to analyst estimates of $35.77 billion. During the same period in the previous year, the firm earned $2.63 EPS. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities research analysts predict that JPMorgan Chase & Co. will post 14.35 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be given a $1.00 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.81%. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.52%.

JPMorgan Chase & Co. Company Profile

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JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.