JPMorgan Chase & Co. $JPM is Penobscot Investment Management Company Inc.’s 6th Largest Position

Penobscot Investment Management Company Inc. lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,861 shares of the financial services provider’s stock after selling 2,543 shares during the period. JPMorgan Chase & Co. makes up 3.1% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 6th biggest position. Penobscot Investment Management Company Inc.’s holdings in JPMorgan Chase & Co. were worth $40,259,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in JPM. Norges Bank acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $11,396,496,000. Cardano Risk Management B.V. lifted its stake in shares of JPMorgan Chase & Co. by 889.3% during the fourth quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider’s stock worth $2,794,785,000 after purchasing an additional 7,796,814 shares in the last quarter. Danske Bank A S acquired a new position in shares of JPMorgan Chase & Co. during the third quarter worth about $696,885,000. American Assets Investment Management LLC boosted its position in shares of JPMorgan Chase & Co. by 1,172.2% in the fourth quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock worth $728,024,000 after buying an additional 2,081,800 shares during the period. Finally, Holocene Advisors LP boosted its position in shares of JPMorgan Chase & Co. by 1,033.3% in the third quarter. Holocene Advisors LP now owns 2,155,120 shares of the financial services provider’s stock worth $679,790,000 after buying an additional 1,964,958 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on JPM. Evercore reiterated an “outperform” rating and issued a $360.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. The Goldman Sachs Group set a $361.00 price target on JPMorgan Chase & Co. in a report on Tuesday, April 14th. Robert W. Baird set a $295.00 price objective on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. HSBC lifted their price objective on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Finally, Truist Financial boosted their target price on shares of JPMorgan Chase & Co. from $332.00 to $344.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Fourteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $345.33.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s AI agents reportedly beat both a 60/40 portfolio and the bank’s rules-based model in backtests, suggesting the company may have a useful edge in applying AI to investing and portfolio construction. JPMorgan AI Agents Beat Traditional Investment Portfolios in Historical Simulations
• Positive Sentiment: Analysts are turning more constructive ahead of earnings, with JPMorgan’s upcoming Q2 results expected to benefit from strong trading and deal activity, which could support earnings momentum. JPMorgan Q2 Earnings Preview — Analysts Raise JPM Stock Price Targets
• Positive Sentiment: JPMorgan is being highlighted as one of the more attractive financial stocks, and a higher price target from Morgan Stanley has added to the bullish tone around the name. JPMorgan (JPM) Ranks Among Most Profitable Stocks
• Neutral Sentiment: Market commentary suggests the broader banking sector could get a boost from upcoming earnings, but results will need to confirm that optimism before it becomes a stronger stock driver. Bank Earnings to Get Wall Street Boost. Can Main Street Keep Up?

JPMorgan Chase & Co. Stock Down 0.1%

Shares of NYSE JPM opened at $336.03 on Monday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $343.45. The stock’s 50-day simple moving average is $315.85 and its 200-day simple moving average is $309.69. The firm has a market cap of $900.40 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 1.53 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter in the prior year, the business posted $5.07 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 22.82 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

Insider Activity

In other news, CFO Jeremy Barnum sold 5,611 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total transaction of $1,720,052.05. Following the completion of the sale, the chief financial officer owned 35,460 shares of the company’s stock, valued at approximately $10,870,263. This trade represents a 13.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 JPMorgan Chase & Co. stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the sale, the general counsel owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. This trade represents a 10.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 33,623 shares of company stock worth $10,427,835. 0.41% of the stock is currently owned by insiders.

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.