Webster Bank N. A. lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 121,535 shares of the financial services provider’s stock after purchasing an additional 663 shares during the period. JPMorgan Chase & Co. comprises 1.6% of Webster Bank N. A.’s holdings, making the stock its 10th biggest position. Webster Bank N. A.’s holdings in JPMorgan Chase & Co. were worth $11,432,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lion Street Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth $37,000. NWK Group Inc. bought a new position in JPMorgan Chase & Co. in the fourth quarter worth about $39,000. Horan Securities Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at about $45,000. Sailer Financial LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $50,000. Finally, Efficient Wealth Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $51,000. Hedge funds and other institutional investors own 71.57% of the company’s stock.
In other JPMorgan Chase & Co. news, Director Stephen B. Burke purchased 75,000 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The stock was purchased at an average price of $87.99 per share, for a total transaction of $6,599,250.00. Following the purchase, the director now directly owns 150,043 shares in the company, valued at $13,202,283.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ashley Bacon sold 13,027 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $91.12, for a total value of $1,187,020.24. Following the completion of the transaction, the insider now owns 137,243 shares of the company’s stock, valued at approximately $12,505,582.16. The disclosure for this sale can be found here. 0.78% of the stock is owned by company insiders.
JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $2.70 by ($1.92). The company had revenue of $28.25 billion during the quarter, compared to analysts’ expectations of $29.45 billion. JPMorgan Chase & Co. had a return on equity of 12.52% and a net margin of 21.61%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.65 EPS. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 5.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a dividend of $0.90 per share. The ex-dividend date is Thursday, July 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.95%. JPMorgan Chase & Co.’s payout ratio is 34.35%.
A number of equities research analysts recently commented on the stock. TheStreet cut shares of JPMorgan Chase & Co. from a “b-” rating to a “c” rating in a research report on Monday, May 11th. DA Davidson upgraded JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and increased their price objective for the company from $102.00 to $117.00 in a report on Thursday. Citigroup dropped their target price on JPMorgan Chase & Co. from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, March 27th. Societe Generale upgraded JPMorgan Chase & Co. from a “sell” rating to a “buy” rating in a research note on Tuesday, April 14th. Finally, Deutsche Bank reissued a “neutral” rating and issued a $105.00 price target (down previously from $130.00) on shares of JPMorgan Chase & Co. in a report on Thursday, April 2nd. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $111.93.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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