Mechanics Bank Trust Department Has $3.01 Million Stake in J P Morgan Chase & Co (JPM)

Mechanics Bank Trust Department lowered its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 11.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,259 shares of the financial services provider’s stock after selling 4,558 shares during the period. Mechanics Bank Trust Department’s holdings in J P Morgan Chase & Co were worth $3,010,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of JPM. FMR LLC increased its position in shares of J P Morgan Chase & Co by 19.4% in the fourth quarter. FMR LLC now owns 96,587,143 shares of the financial services provider’s stock valued at $8,334,505,000 after buying an additional 15,715,835 shares during the period. Norges Bank acquired a new position in shares of J P Morgan Chase & Co during the fourth quarter valued at $2,897,377,000. Dodge & Cox acquired a new position in shares of J P Morgan Chase & Co during the fourth quarter valued at $2,297,616,000. Teachers Advisors LLC increased its position in shares of J P Morgan Chase & Co by 10.1% in the fourth quarter. Teachers Advisors LLC now owns 8,317,280 shares of the financial services provider’s stock valued at $717,698,000 after buying an additional 764,019 shares during the period. Finally, FIL Ltd increased its position in shares of J P Morgan Chase & Co by 3.0% in the fourth quarter. FIL Ltd now owns 7,365,199 shares of the financial services provider’s stock valued at $635,544,000 after buying an additional 211,295 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

J P Morgan Chase & Co (NYSE JPM) traded down 0.36% during midday trading on Tuesday, hitting $93.68. The stock had a trading volume of 13,744,017 shares. The firm has a market cap of $329.66 billion, a P/E ratio of 13.82 and a beta of 1.19. J P Morgan Chase & Co has a 12-month low of $64.86 and a 12-month high of $95.22. The stock has a 50-day moving average price of $91.05 and a 200 day moving average price of $88.16.

J P Morgan Chase & Co (NYSE:JPM) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, topping the consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. J P Morgan Chase & Co’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that J P Morgan Chase & Co will post $6.81 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Thursday, July 6th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.13%. The ex-dividend date was Monday, July 3rd. J P Morgan Chase & Co’s dividend payout ratio (DPR) is 29.59%.

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Several research analysts recently weighed in on the company. Berenberg Bank set a $65.00 target price on J P Morgan Chase & Co and gave the stock a “sell” rating in a research note on Thursday, August 3rd. BidaskClub downgraded J P Morgan Chase & Co from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of J P Morgan Chase & Co in a research report on Friday, July 21st. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $99.00 price target on shares of J P Morgan Chase & Co in a research report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $84.71.

In other news, CFO Marianne Lake sold 17,596 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $91.58, for a total value of $1,611,441.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ashley Bacon sold 6,514 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $87.21, for a total transaction of $568,085.94. Following the completion of the transaction, the insider now owns 47,384 shares of the company’s stock, valued at $4,132,358.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,110 shares of company stock valued at $2,270,818. 0.85% of the stock is owned by insiders.

About J P Morgan Chase & Co

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

Institutional Ownership by Quarter for J P Morgan Chase & Co (NYSE:JPM)

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