AMG National Trust Bank Grows Position in JPMorgan Chase & Co. $JPM

Key Points

• AMG National Trust Bank increased its JPMorgan Chase stake by 16.6% in the first quarter, buying 11,144 additional shares and bringing its total holding to 78,306 shares valued at about $23.0 million.
• JPMorgan continues to attract strong investor and analyst attention after a blowout Q2, with record profits, higher guidance, and multiple firms raising price targets and earnings expectations.
• The company also reinforced its shareholder-return story by declaring a quarterly dividend of $1.50 per share, while insider selling in recent months included trades by the general counsel and CFO under pre-arranged 10b5-1 plans.

AMG National Trust Bank grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 16.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,306 shares of the financial services provider's stock after purchasing an additional 11,144 shares during the quarter. AMG National Trust Bank's holdings in JPMorgan Chase & Co. were worth $23,034,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of JPM. Mattern Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 4.4% in the 1st quarter. Mattern Capital Management LLC now owns 5,195 shares of the financial services provider's stock worth $1,528,000 after purchasing an additional 218 shares during the period. Sterling Group Wealth Management LLC raised its stake in JPMorgan Chase & Co. by 0.8% in the first quarter. Sterling Group Wealth Management LLC now owns 4,020 shares of the financial services provider's stock valued at $1,183,000 after purchasing an additional 33 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC raised its stake in JPMorgan Chase & Co. by 2.4% in the first quarter. Blake Schutter Theil Wealth Advisors LLC now owns 4,088 shares of the financial services provider's stock valued at $1,203,000 after purchasing an additional 95 shares in the last quarter. Objective Capital Management LLC lifted its position in JPMorgan Chase & Co. by 6.4% during the first quarter. Objective Capital Management LLC now owns 2,874 shares of the financial services provider's stock valued at $846,000 after purchasing an additional 172 shares during the last quarter. Finally, Lutz Financial Services LLC lifted its position in JPMorgan Chase & Co. by 3.1% during the first quarter. Lutz Financial Services LLC now owns 1,417 shares of the financial services provider's stock valued at $417,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income -- Up 41% -- and CEO Jamie Dimon Said the Economy Is "Close to as Good as It Gets."
• Positive Sentiment: Analysts have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
• Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
• Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
• Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the firm's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the sale, the general counsel owned 40,961 shares of the company's stock, valued at $13,547,031.53. This trade represents a 11.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the transaction, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. The trade was a 8.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,876 shares of company stock worth $5,907,051 in the last three months. 0.41% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on JPM shares. Weiss Ratings raised shares of JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, July 6th. UBS Group raised their price target on JPMorgan Chase & Co. from $375.00 to $384.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $418.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday. HSBC upped their price objective on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a report on Monday, May 4th. Finally, Robert W. Baird increased their price objective on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a "neutral" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and an average target price of $354.92.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $341.60 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $351.24. The stock has a 50 day moving average price of $319.11 and a two-hundred day moving average price of $310.31. The company has a market capitalization of $915.33 billion, a P/E ratio of 14.64, a PEG ratio of 1.53 and a beta of 0.99.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.'s payout ratio is presently 25.71%.

About JPMorgan Chase & Co.

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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