First Commonwealth Financial Corp PA Purchases 2,858 Shares of JPMorgan Chase & Co. $JPM

First Commonwealth Financial Corp PA raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 19.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,582 shares of the financial services provider’s stock after acquiring an additional 2,858 shares during the quarter. JPMorgan Chase & Co. makes up 0.9% of First Commonwealth Financial Corp PA’s portfolio, making the stock its 18th biggest holding. First Commonwealth Financial Corp PA’s holdings in JPMorgan Chase & Co. were worth $5,546,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC raised its position in JPMorgan Chase & Co. by 0.5% in the second quarter. Geode Capital Management LLC now owns 61,129,271 shares of the financial services provider’s stock worth $17,646,506,000 after acquiring an additional 300,160 shares during the period. Norges Bank purchased a new position in JPMorgan Chase & Co. during the second quarter valued at $10,295,209,000. Legal & General Group Plc grew its holdings in JPMorgan Chase & Co. by 3.3% during the third quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider’s stock valued at $5,964,459,000 after purchasing an additional 607,025 shares during the period. Laurel Wealth Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 28,813.7% in the second quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock worth $4,866,309,000 after buying an additional 16,727,530 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of JPMorgan Chase & Co. by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 15,722,443 shares of the financial services provider’s stock valued at $4,959,330,000 after acquiring an additional 347,033 shares during the period. Institutional investors own 71.55% of the company’s stock.

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Wall Street Analysts Forecast Growth

A number of research firms have weighed in on JPM. Freedom Capital upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a research report on Wednesday, January 14th. Robert W. Baird raised their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, March 4th. TD Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, January 7th. Morgan Stanley set a $331.00 target price on JPMorgan Chase & Co. in a research note on Tuesday, December 9th. Finally, DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.00.

Check Out Our Latest Analysis on JPM

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $287.68 on Thursday. The business’s 50 day moving average price is $304.03 and its 200-day moving average price is $308.08. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $337.25. The company has a market cap of $775.88 billion, a P/E ratio of 14.38, a P/E/G ratio of 1.19 and a beta of 1.06. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.85 and a current ratio of 0.85.

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

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, April 6th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, April 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.99%.

Insider Activity

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 2,893 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $312.79, for a total value of $904,901.47. Following the completion of the sale, the chief financial officer owned 26,696 shares of the company’s stock, valued at $8,350,241.84. This trade represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $307.11, for a total value of $15,355,500.00. Following the transaction, the chief executive officer owned 111,279 shares of the company’s stock, valued at $34,174,893.69. This trade represents a 31.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 71,596 shares of company stock worth $22,067,932 in the last 90 days. Company insiders own 0.47% of the company’s stock.

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.

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

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