Washington Trust Advisors Inc. Reduces Holdings in JPMorgan Chase & Co. $JPM

Washington Trust Advisors Inc. decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,328 shares of the financial services provider’s stock after selling 288 shares during the period. Washington Trust Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $9,082,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Moment Partners LLC increased its position in shares of JPMorgan Chase & Co. by 0.5% during the second quarter. Moment Partners LLC now owns 7,787 shares of the financial services provider’s stock worth $2,258,000 after acquiring an additional 42 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in JPMorgan Chase & Co. by 0.8% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,777,996 shares of the financial services provider’s stock worth $1,965,009,000 after purchasing an additional 56,033 shares during the last quarter. West Michigan Advisors LLC increased its holdings in JPMorgan Chase & Co. by 1.7% during the 2nd quarter. West Michigan Advisors LLC now owns 22,980 shares of the financial services provider’s stock worth $6,662,000 after purchasing an additional 389 shares during the last quarter. First Business Financial Services Inc. increased its holdings in JPMorgan Chase & Co. by 2.7% during the 2nd quarter. First Business Financial Services Inc. now owns 33,950 shares of the financial services provider’s stock worth $9,842,000 after purchasing an additional 878 shares during the last quarter. Finally, Moloney Securities Asset Management LLC increased its holdings in JPMorgan Chase & Co. by 14.0% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 25,614 shares of the financial services provider’s stock worth $7,426,000 after purchasing an additional 3,142 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on JPM shares. Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Citigroup boosted their target price on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. TD Cowen boosted their target price on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Finally, Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $322.50.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $309.19 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The firm has a 50-day simple moving average of $305.20 and a 200 day simple moving average of $285.41. The company has a market cap of $850.18 billion, a PE ratio of 15.31, a P/E/G ratio of 1.84 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. The company had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The business’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.37 earnings per share. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.