JPMorgan Chase & Co. (NYSE:JPM) is Mechanics Financial Corp’s 9th Largest Position

Posted by Defense World Staff on Aug 8th, 2023

Mechanics Financial Corp raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 6.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,758 shares of the financial services provider’s stock after buying an additional 1,500 shares during the quarter. JPMorgan Chase & Co. comprises 2.0% of Mechanics Financial Corp’s portfolio, making the stock its 9th biggest holding. Mechanics Financial Corp’s holdings in JPMorgan Chase & Co. were worth $3,357,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in JPM. Adirondack Retirement Specialists Inc. boosted its holdings 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 purchasing an additional 189 shares during the period. Nordwand Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $30,000. Boulder Wealth Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $43,000. Capital Directions Investment Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $44,000. Finally, VitalStone Financial LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $58,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO Douglas B. Petno sold 4,930 shares of the business’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 transaction, the chief executive officer now directly owns 277,161 shares of the company’s stock, valued at approximately $39,401,207.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Douglas B. Petno sold 4,930 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $142.16, for a total transaction of $700,848.80. Following the transaction, the chief executive officer now directly owns 277,161 shares in the company, valued at approximately $39,401,207.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Daniel E. Pinto sold 113,640 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $135.93, for a total value of $15,447,085.20. Following the transaction, the chief executive officer now owns 566,665 shares in the company, valued at $77,026,773.45. The disclosure for this sale can be found here. In the last three months, insiders sold 145,861 shares of company stock valued at $19,858,275. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.5 %

JPM opened at $156.76 on Tuesday. The firm has a market cap of $458.10 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 2.05 and a beta of 1.10. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.28. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $159.38. The stock has a fifty day moving average price of $146.36 and a 200-day moving average price of $139.84.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $3.62 by $0.75. The firm had revenue of $42.40 billion during the quarter, compared to analyst estimates of $38.66 billion. JPMorgan Chase & Co. had a return on equity of 17.29% and a net margin of 23.45%. The business’s revenue for the quarter was up 34.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.76 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 15.23 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Thursday, July 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Wednesday, July 5th. JPMorgan Chase & Co.’s payout ratio is 25.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on JPM shares. 888 reiterated a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 26th. Evercore ISI decreased their price target on JPMorgan Chase & Co. from $155.00 to $151.00 in a research note on Friday, May 12th. Piper Sandler raised their price target on JPMorgan Chase & Co. from $158.00 to $168.00 in a research note on Monday, July 17th. Atlantic Securities raised their price target on JPMorgan Chase & Co. from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 1st. Finally, Citigroup lowered JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a research note on Wednesday, July 12th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.39.

Get Our Latest Analysis on JPM

About JPMorgan Chase & Co.

(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.