JPMorgan Chase & Co. $JPM Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. cut its holdings in JPMorgan Chase & Co. (NYSE:JPMFree Report) by 1.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 309,113 shares of the financial services provider’s stock after selling 4,763 shares during the period. JPMorgan Chase & Co. comprises approximately 2.7% of Wesbanco Bank Inc.’s investment portfolio, making the stock its 5th biggest holding. Wesbanco Bank Inc.’s holdings in JPMorgan Chase & Co. were worth $97,504,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Harbor Asset Planning Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. grew its holdings in JPMorgan Chase & Co. by 450.0% during the second quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 90 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in JPMorgan Chase & Co. during the third quarter worth approximately $32,000. Family Legacy Financial Solutions LLC raised its stake in JPMorgan Chase & Co. by 92.6% in the third quarter. Family Legacy Financial Solutions LLC now owns 104 shares of the financial services provider’s stock valued at $33,000 after buying an additional 50 shares during the period. Finally, Collier Financial bought a new stake in JPMorgan Chase & Co. in the third quarter valued at approximately $60,000. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on JPM. HSBC set a $319.00 target price on JPMorgan Chase & Co. and gave the stock a “hold” rating in a report on Thursday, February 5th. Weiss Ratings reiterated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a report on Monday, December 22nd. Freedom Capital upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a research note on Wednesday, January 14th. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Finally, Morgan Stanley set a $331.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, December 9th. Fourteen analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $339.73.

View Our Latest Research Report on JPM

JPMorgan Chase & Co. Stock Up 0.6%

NYSE JPM opened at $309.03 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.27. The company has a market cap of $833.45 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.50 and a beta of 1.07. The company has a 50 day moving average of $315.40 and a 200-day moving average of $307.87. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $337.25.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its quarterly earnings data on Tuesday, January 13th. The financial services provider reported $5.23 EPS for the quarter, topping analysts’ consensus estimates of $4.93 by $0.30. The firm had revenue of $45.80 billion for the quarter, compared to analyst estimates of $45.98 billion. JPMorgan Chase & Co. had a return on equity of 17.16% and a net margin of 20.35%.The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $4.81 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Tuesday, January 6th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, January 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.99%.

Insiders Place Their Bets

In related news, CFO Jeremy Barnum sold 2,892 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $306.42, for a total value of $886,166.64. Following the transaction, the chief financial officer directly owned 23,804 shares of the company’s stock, valued at $7,294,021.68. This trade represents a 10.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 3,404 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $306.40, for a total value of $1,042,985.60. Following the sale, the general counsel owned 61,949 shares of the company’s stock, valued at $18,981,173.60. The trade was a 5.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,164 shares of company stock worth $6,579,748 over the last ninety days. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. News Summary

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

JPMorgan Chase & Co. Profile

(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.

Further Reading

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

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