MidFirst Bank Invests $20.73 Million in JPMorgan Chase & Co. $JPM

MidFirst Bank acquired a new position in JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, HoldingsChannel reports. The fund acquired 65,722 shares of the financial services provider’s stock, valued at approximately $20,728,000. JPMorgan Chase & Co. accounts for about 1.6% of MidFirst Bank’s investment portfolio, making the stock its 11th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of JPM. Morgan Stanley boosted its holdings in JPMorgan Chase & Co. by 1.4% in the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock valued at $21,390,662,000 after acquiring an additional 939,421 shares during the last quarter. Norges Bank acquired a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $11,396,496,000. Bank of New York Mellon Corp raised its holdings in JPMorgan Chase & Co. by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock worth $7,547,837,000 after purchasing an additional 1,194,583 shares during the last quarter. Legal & General Group Plc lifted its position in shares of JPMorgan Chase & Co. by 0.6% in the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock worth $6,128,484,000 after purchasing an additional 110,586 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of JPMorgan Chase & Co. by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock worth $5,161,532,000 after purchasing an additional 296,213 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on JPM. UBS Group reduced their price objective on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, May 12th. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. HSBC increased their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Finally, Jefferies Financial Group reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $339.08.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan was highlighted as a long-term favorite by multiple market commentators, with articles pointing to Jamie Dimon’s leadership, a strong balance sheet, and the bank’s durable profit record. Jamie Dimon’s Savvy Leadership, Bold Initiatives Keep JPMorgan Chase on Top
• Positive Sentiment: The bank’s planned expansion of the Chase digital bank into at least five European countries over the next five years suggests a new growth avenue that could widen its customer base and support future revenue. JPMorgan Chase & Co. (JPM) – Among the Top 10 Dividend Stocks to Buy According to Reddit
• Positive Sentiment: JPMorgan was also linked to a new Morningstar collaboration with Apollo and Franklin Templeton on model portfolios, reinforcing JPMorgan’s role in wealth-management product innovation. Morningstar (MORN) Teams Up With Apollo, Franklin Templeton, And JPMorgan On New Models
• Neutral Sentiment: Several articles simply reaffirmed JPMorgan as a top dividend or long-term holding, which is supportive sentiment but does not by itself change the near-term earnings outlook. Why JPMorgan Chase & Co. (JPM) is a Top Stock for the Long-Term
• Negative Sentiment: Offsetting the positives, the DOJ is probing transactions tied to a business network linked to Iran’s supreme leader, and JPMorgan was named in the coverage. That adds regulatory and reputational risk, which can pressure the shares if the investigation deepens. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader’s business network

JPMorgan Chase & Co. Stock Up 0.0%

Shares of NYSE JPM opened at $325.28 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. The firm has a market cap of $871.58 billion, a PE ratio of 15.58, a P/E/G ratio of 1.51 and a beta of 1.00. The company’s fifty day simple moving average is $309.17 and its 200 day simple moving average is $307.69. JPMorgan Chase & Co. has a 12-month low of $272.11 and a 12-month high of $338.09.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same period in the previous year, the firm posted $5.07 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 22.44 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is presently 28.74%.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 9,136 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the completion of the sale, the chief operating officer owned 90,001 shares in the company, valued at $27,590,706.56. The trade was a 9.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the sale, the general counsel owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. This represents a 10.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,589 shares of company stock valued at $8,747,496 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Company 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.