Fifth Third Bancorp Boosts Stock Holdings in JPMorgan Chase & Co. $JPM

Fifth Third Bancorp increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 46.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,307,677 shares of the financial services provider’s stock after acquiring an additional 1,053,505 shares during the quarter. JPMorgan Chase & Co. comprises 1.8% of Fifth Third Bancorp’s holdings, making the stock its 9th largest position. Fifth Third Bancorp’s holdings in JPMorgan Chase & Co. were worth $972,986,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sovran Advisors LLC boosted its position in JPMorgan Chase & Co. by 35.6% in the 1st quarter. Sovran Advisors LLC now owns 18,839 shares of the financial services provider’s stock valued at $5,901,000 after buying an additional 4,943 shares during the period. Rossmore Private Capital raised its stake in shares of JPMorgan Chase & Co. by 2.5% during the first quarter. Rossmore Private Capital now owns 104,011 shares of the financial services provider’s stock valued at $30,596,000 after acquiring an additional 2,574 shares in the last quarter. Signature Resources Capital Management LLC raised its stake in shares of JPMorgan Chase & Co. by 7.3% during the first quarter. Signature Resources Capital Management LLC now owns 690 shares of the financial services provider’s stock valued at $203,000 after acquiring an additional 47 shares in the last quarter. Oakwell Private Wealth Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 6.8% in the first quarter. Oakwell Private Wealth Management LLC now owns 8,546 shares of the financial services provider’s stock valued at $2,514,000 after purchasing an additional 547 shares during the period. Finally, WealthShield Partners LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.7% in the first quarter. WealthShield Partners LLC now owns 31,378 shares of the financial services provider’s stock valued at $9,230,000 after purchasing an additional 214 shares during the period. Institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the sale, the chief operating officer owned 85,082 shares of the company’s stock, valued at $26,326,072.44. This trade represents a 5.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the transaction, the chief financial officer owned 32,438 shares in the company, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 18,876 shares of company stock valued at $5,907,051. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on JPM shares. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. UBS Group upped their target price on JPMorgan Chase & Co. from $375.00 to $384.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Autonomous Res dropped their price target on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Truist Financial raised their price target on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Zacks Research downgraded JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Fifteen research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.42.

Read Our Latest Stock Report on JPM

JPMorgan Chase & Co. Stock Up 1.1%

NYSE:JPM opened at $346.77 on Thursday. The company’s 50-day simple moving average is $317.58 and its 200-day simple moving average is $309.98. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $351.24. The stock has a market capitalization of $929.17 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.56 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate of $5.50 by $0.44. The firm had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. JPMorgan Chase & Co.’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.07 EPS. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 22.82 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.71%.

JPMorgan Chase & Co. News Summary

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

About JPMorgan Chase & Co.

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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