Shellback Capital LP Makes New $30.66 Million Investment in JPMorgan Chase & Co. $JPM

Key Points

• Shellback Capital LP has acquired 125,000 shares of JPMorgan Chase & Co. valued at approximately $30.66 million, making it the firm's 7th largest position.
• JPMorgan Chase & Co. reported a quarterly earnings per share of $4.96, exceeding expectations but down from $6.12 in the same quarter last year, with revenue down 10.5% year-over-year.
• Analysts maintain a consensus rating of "Moderate Buy" for JPMorgan Chase, with a price target averaging $291.67.

Shellback Capital LP purchased a new position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 125,000 shares of the financial services provider's stock, valued at approximately $30,662,000. JPMorgan Chase & Co. comprises about 3.0% of Shellback Capital LP's holdings, making the stock its 7th largest holding.

A number of other large investors have also recently added to or reduced their stakes in the stock. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $28,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. in the first quarter worth about $30,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. in the first quarter valued at about $33,000. Measured Risk Portfolios Inc. acquired a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $44,000. Finally, Minot DeBlois Advisors LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $54,000. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. 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 sale, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Morgan Stanley lifted their price objective on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Finally, Bank of America lifted their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and an average target price of $291.67.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM traded up $4.85 during mid-day trading on Thursday, hitting $305.39. The stock had a trading volume of 7,940,171 shares, compared to its average volume of 6,663,663. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The company has a 50 day simple moving average of $293.72 and a 200-day simple moving average of $266.98. The stock has a market capitalization of $839.75 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 2.00 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $305.73.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $6.12 earnings per share. On average, research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Company Profile

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.