SummitTX Capital L.P. Makes New $4.69 Million Investment in JPMorgan Chase & Co. $JPM

SummitTX Capital L.P. purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,938 shares of the financial services provider’s stock, valued at approximately $4,688,000.

A number of other hedge funds have also modified their holdings of JPM. Lazard Asset Management LLC raised its position in JPMorgan Chase & Co. by 36.8% in the 1st quarter. Lazard Asset Management LLC now owns 417,116 shares of the financial services provider’s stock valued at $122,699,000 after buying an additional 112,305 shares during the last quarter. Castleark Management LLC lifted its stake in JPMorgan Chase & Co. by 13.2% in the 1st quarter. Castleark Management LLC now owns 50,525 shares of the financial services provider’s stock valued at $14,862,000 after acquiring an additional 5,890 shares in the last quarter. Gateway Wealth Partners LLC boosted its position in JPMorgan Chase & Co. by 284.9% during the 1st quarter. Gateway Wealth Partners LLC now owns 25,743 shares of the financial services provider’s stock worth $7,573,000 after acquiring an additional 19,054 shares during the last quarter. Turim 21 Investimentos Ltda. acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $62,000. Finally, Blue Chip Partners LLC grew its stake in shares of JPMorgan Chase & Co. by 0.8% during the 1st quarter. Blue Chip Partners LLC now owns 153,633 shares of the financial services provider’s stock worth $45,193,000 after acquiring an additional 1,230 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $357.49 on Wednesday. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $359.30. The company has a market cap of $957.90 billion, a P/E ratio of 15.32, a P/E/G ratio of 1.48 and a beta of 0.99. The firm’s fifty day moving average price is $326.08 and its two-hundred day moving average price is $311.33. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The company had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $50.72 billion. During the same quarter last year, the company posted $4.96 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 27.7% compared to the same quarter last year. Equities analysts expect that JPMorgan Chase & Co. will post 23.97 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 1.7%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.71%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Royal Bank Of Canada increased their target price on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Daiwa Securities Group lowered their price target on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Citigroup boosted their price target on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $358.67.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan reported a record $21.2 billion second-quarter profit, with earnings of $6.14 per share and revenue of $58.02 billion—well above analyst expectations. The results reflected strong performance across trading, investment banking and net interest income, reinforcing the bank’s earnings momentum. JPMorgan’s Record Quarter Came as Jamie Dimon Warned of Tectonic Risks Below the Surface
• Positive Sentiment: Rising earnings estimates and projected sales growth have strengthened the near-term investment case for JPM, with analysts citing solid cash flow, a diversified business model and a relatively attractive valuation. Earnings Estimates Rising for JPMorgan Chase & Co.
• Positive Sentiment: JPMorgan’s Kinexys blockchain platform is expected to support instant corporate dollar payments for South Korea’s KB Kookmin Bank, highlighting potential growth in transaction banking and digital payments. KB Kookmin Taps JPMorgan’s Kinexys
• Neutral Sentiment: Financial stocks remain broadly supported, with the Financial Select Sector SPDR ETF reaching a record high. This favorable sector backdrop may help JPM, but it also raises the risk that strong expectations are already reflected in bank valuations. Financial Sector ETF Hits Record High on Fintech Gains
• Negative Sentiment: Dimon said market risks are “bigger than other people think” and cited geopolitical threats, long-term interest-rate uncertainty and the possibility of a major economic shock. His caution—including that he is not currently buying stocks—could weigh on sentiment despite the record quarter. Jamie Dimon Says Market Risks Are Bigger Than Other People Think
• Negative Sentiment: Economists and traders are increasingly concerned that fiscal boosts may fade later this year, while markets are pricing a risk that the Federal Reserve could eventually raise rates. A weaker economy or higher funding costs could pressure loan demand, credit quality and JPMorgan’s market valuation. Traders Make Record Rush to Fed Futures as Doubts Shadow Market

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,467 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was 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. The trade was a 11.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the transaction, the chief financial officer directly owned 32,438 shares in the company, valued at $10,036,641.58. The trade was a 8.52% 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 18,876 shares of company stock worth $5,907,051 over the last quarter. Company insiders own 0.41% of the company’s stock.

About JPMorgan Chase & Co.

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.