11,166 Shares of JPMorgan Chase & Co. $JPM Purchased by NBH Bank

Key Points

• NBH Bank purchased 11,166 JPMorgan shares worth approximately $3.655 million in the second quarter, making JPM 1.5% of its portfolio. Institutional investors and hedge funds collectively own 71.55% of the stock.
• JPMorgan reported quarterly earnings of $6.14 per share and revenue of $58.02 billion, exceeding analyst estimates. The bank also raised its quarterly dividend to $1.65 per share, up from $1.50.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and an average price target of $363.29, despite shares trading down 0.5% at $334.95.

NBH Bank purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,166 shares of the financial services provider's stock, valued at approximately $3,655,000. JPMorgan Chase & Co. comprises 1.5% of NBH Bank's portfolio, making the stock its 16th biggest position.

A number of other hedge funds have also modified their holdings of JPM. MBM Wealth Consultants LLC bought a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $29,000. Aventus Investment Advisors Inc. bought a new position in shares of JPMorgan Chase & Co. during the second quarter worth $33,000. Osbon Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $35,000. Timbuktu Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $50,000. Finally, Montgomery Financial Services LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $62,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: JPMorgan’s planned partnership with the Qatar Investment Authority could generate additional asset-management revenue, with JPMorgan Asset Management expected to manage approximately $15 billion of a proposed $20 billion mandate spanning public and private markets. JPMorgan QIA partnership article
• Positive Sentiment: JPMorgan ETFs attracted nearly $600 million of net inflows on September 28, a sign of continued demand for the bank’s investment products and a potential benefit to fee income. JPMorgan ETF inflows article
• Positive Sentiment: HSBC raised its JPMorgan price target to $377 from $369 while maintaining a Hold rating, suggesting analysts see valuation upside despite near-term caution. HSBC JPMorgan price target article
• Positive Sentiment: Analysts expect double-digit earnings growth in JPMorgan’s upcoming third quarter, while the bank has issued new debt and declared a preferred-stock dividend, highlighting continued access to funding and capital distributions. JPMorgan quarterly earnings preview

JPMorgan Chase & Co. Trading Down 0.5%

JPM opened at $334.95 on Wednesday. The stock has a market capitalization of $890.37 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.38 and a beta of 0.98. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $366.50. The firm's fifty day simple moving average is $353.53 and its 200 day simple moving average is $326.38. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.59 by $0.55. The firm had revenue of $58.02 billion during the quarter, compared to analyst estimates of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The company's revenue for the quarter was up 27.7% compared to the same quarter last year. During the same period in the prior year, the business earned $4.96 EPS. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 24.29 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Tuesday, October 6th will be paid a dividend of $1.65 per share. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $6.60 annualized dividend and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 25.71%.

Insider Activity

In other news, insider Robin Leopold sold 2,500 shares of the business's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total value of $882,025.00. Following the sale, the insider owned 71,047 shares of the company's stock, valued at $25,066,092.07. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

JPM has been the topic of several research analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating and set a $418.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Weiss Ratings upgraded JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday, September 2nd. UBS Group increased their price target on JPMorgan Chase & Co. from $384.00 to $400.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Barclays raised their price target on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a "hold" rating to a "buy" rating and set a $375.00 price objective on the stock in a report on Wednesday, July 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $363.29.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.

The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across international markets.

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