BTC Capital Management Inc. Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

BTC Capital Management Inc. lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,342 shares of the financial services provider’s stock after buying an additional 1,068 shares during the quarter. JPMorgan Chase & Co. comprises 1.7% of BTC Capital Management Inc.’s investment portfolio, making the stock its 15th biggest position. BTC Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $18,237,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $29,000. Sellwood Investment Partners LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $37,000. Prudent Man Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $43,000. Finally, Midwest Capital Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $43,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on JPM. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a “buy” rating and a $305.00 price target on the stock. Bank of America decreased their price target on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Robert W. Baird increased their price target on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, May 20th. TD Securities increased their price target on shares of JPMorgan Chase & Co. from $305.00 to $315.00 and gave the stock a “buy” rating in a report on Tuesday, May 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $285.00 price target (up previously from $255.00) on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $266.65.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,272 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.03, for a total value of $1,055,312.16. Following the sale, the chief operating officer now owns 50,197 shares of the company’s stock, valued at $12,400,164.91. This trade represents a 7.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the firm’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the sale, the general counsel now directly owns 36,520 shares in the company, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,594 shares of company stock valued at $23,991,061 in the last quarter. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $263.97 on Friday. The stock has a market cap of $733.60 billion, a PE ratio of 13.37, a PEG ratio of 2.83 and a beta of 1.07. The company’s fifty day moving average is $245.86 and its 200 day moving average is $249.13. JPMorgan Chase & Co. has a 52 week low of $190.88 and a 52 week high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. The company had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $4.44 EPS. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.