First Hawaiian Bank Grows Stake in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 3rd, 2023

First Hawaiian Bank raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,514 shares of the financial services provider’s stock after purchasing an additional 935 shares during the period. First Hawaiian Bank’s holdings in JPMorgan Chase & Co. were worth $7,234,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Retirement Financial Solutions LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $26,000. Adirondack Retirement Specialists Inc. raised its position in shares of JPMorgan Chase & Co. by 510.8% in the 1st quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 189 shares in the last quarter. Creative Capital Management Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $30,000. Boulder Wealth Advisors LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $43,000. Finally, Capital Directions Investment Advisors LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $44,000. 70.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Douglas B. Petno sold 4,930 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $142.16, for a total value of $700,848.80. Following the completion of the sale, the chief executive officer now owns 277,161 shares of the company’s stock, valued at $39,401,207.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 4,930 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $142.16, for a total value of $700,848.80. Following the completion of the sale, the chief executive officer now directly owns 277,161 shares of the company’s stock, valued at approximately $39,401,207.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Peter Scher sold 1,240 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $135.02, for a total transaction of $167,424.80. Following the completion of the sale, the insider now directly owns 45,056 shares of the company’s stock, valued at approximately $6,083,461.12. The disclosure for this sale can be found here. Insiders have sold 145,861 shares of company stock valued at $19,858,275 in the last ninety days. 0.79% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Monday, April 17th. Credit Suisse Group increased their target price on shares of JPMorgan Chase & Co. from $155.00 to $160.00 in a research report on Tuesday, April 18th. Evercore ISI cut their price target on shares of JPMorgan Chase & Co. from $155.00 to $151.00 in a report on Friday, May 12th. 92 Resources reiterated a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Friday, May 12th. Finally, Bank of America raised their price objective on JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, April 17th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.35.

JPMorgan Chase & Co. Trading Up 1.4 %

Shares of JPMorgan Chase & Co. stock opened at $145.44 on Monday. The stock has a market cap of $425.02 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.97 and a beta of 1.10. The firm has a fifty day moving average price of $138.75 and a 200 day moving average price of $136.81. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $146.00. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.85 and a quick ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM – Free Report) last released its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.69. The business had revenue of $38.35 billion during the quarter, compared to analyst estimates of $35.77 billion. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The company’s revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the business posted $2.63 EPS. Equities research analysts predict that JPMorgan Chase & Co. will post 14.53 earnings per share for the current 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 paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $4.00 annualized dividend and a yield of 2.75%. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.52%.

JPMorgan Chase & Co. Company Profile

(Free Report)

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.