Stonebridge Financial Group LLC Acquires 1,753 Shares of JPMorgan Chase & Co. $JPM

Stonebridge Financial Group LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 38,079 shares of the financial services provider’s stock after acquiring an additional 1,753 shares during the period. Stonebridge Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $12,464,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Essential Planning LLC. boosted its holdings in shares of JPMorgan Chase & Co. by 2.4% in the 4th quarter. Essential Planning LLC. now owns 1,399 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 33 shares during the period. Sterling Group Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 0.8% during the 1st quarter. Sterling Group Wealth Management LLC now owns 4,020 shares of the financial services provider’s stock valued at $1,183,000 after purchasing an additional 33 shares during the last quarter. Vestia Personal Wealth Advisors raised its holdings in JPMorgan Chase & Co. by 2.7% during the 4th quarter. Vestia Personal Wealth Advisors now owns 1,294 shares of the financial services provider’s stock valued at $391,000 after buying an additional 34 shares during the period. South Street Advisors LLC raised its holdings in JPMorgan Chase & Co. by 0.4% during the 4th quarter. South Street Advisors LLC now owns 9,421 shares of the financial services provider’s stock valued at $3,036,000 after buying an additional 34 shares during the period. Finally, Continental Investors Services Inc. lifted its position in JPMorgan Chase & Co. by 4.9% in the fourth quarter. Continental Investors Services Inc. now owns 722 shares of the financial services provider’s stock worth $225,000 after buying an additional 34 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $352.60 on Tuesday. The stock’s fifty day moving average is $329.73 and its two-hundred day moving average is $312.08. The company has a market capitalization of $944.79 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $359.30.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.55. The business had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same period last year, the company earned $4.96 earnings per share. As a group, analysts expect that JPMorgan Chase & Co. will post 24.27 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, July 6th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.71%.

Analyst Upgrades and Downgrades

Several research firms have commented on JPM. Evercore reaffirmed an “outperform” rating and set a $360.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. Robert W. Baird increased their target price on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group restated a “buy” rating and issued a $418.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, May 12th. Finally, Truist Financial upped their price target on shares of JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $359.33.

JPMorgan Chase & Co. News Summary

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan announced plans to deploy more than $750 billion through 2035 through its American Dream Initiative—nearly 40% more housing capital than during the prior decade. The program targets financing for 1 million affordable housing units and assistance for 500,000 homebuyers, including 200,000 first-time buyers. JPMorganChase Doubles Down on Housing
• Positive Sentiment: The bank plans to increase mortgage lending by more than 40% and hire 850 Home Lending Advisors. Investors may view the expansion as a meaningful growth opportunity if housing supply improves and demand for mortgages, refinancing and affordable-housing finance strengthens. JPMorgan Stock Rises as Housing Plan Unfolds
• Positive Sentiment: Financial stocks advanced broadly, with the NYSE Financial Index rising 0.6%, providing a favorable sector backdrop for JPM. The move follows JPMorgan’s recent strong quarterly results, which exceeded analyst expectations for earnings and revenue. Sector Update: Financial Stocks Advance Late Afternoon
• Neutral Sentiment: JPMorgan economists reportedly brought forward their expectation for a possible year-end Federal Reserve rate increase, citing concerns about Fed credibility. Higher rates could support interest income but also pressure loan demand, bond values and credit quality. JPMorgan Rate Forecast
• Negative Sentiment: Commentary on the housing push warns that the large lending pipeline must pass a profitability test. The scale of the commitment could expose JPMorgan to margin pressure, housing-cycle risk and higher credit losses if returns do not justify the additional capital deployment. JPMorgan Makes Massive Push Into American Housing

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 5,467 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the sale, the general counsel owned 40,961 shares in the company, valued at $13,547,031.53. This trade represents a 11.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is owned by insiders.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.