Burke & Herbert Bank & Trust Co. Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

Burke & Herbert Bank & Trust Co. trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 10.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,245 shares of the financial services provider's stock after selling 1,945 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.0% of Burke & Herbert Bank & Trust Co.'s holdings, making the stock its 22nd largest position. Burke & Herbert Bank & Trust Co.'s holdings in JPMorgan Chase & Co. were worth $3,985,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sharp Financial Services LLC increased its stake in JPMorgan Chase & Co. by 16.5% in the 1st quarter. Sharp Financial Services LLC now owns 1,782 shares of the financial services provider's stock worth $437,000 after buying an additional 252 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in JPMorgan Chase & Co. by 8.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 113,870 shares of the financial services provider's stock worth $27,932,000 after buying an additional 9,260 shares in the last quarter. HM Payson & Co. increased its stake in JPMorgan Chase & Co. by 15.3% in the 1st quarter. HM Payson & Co. now owns 382,010 shares of the financial services provider's stock worth $93,707,000 after buying an additional 50,664 shares in the last quarter. Macroview Investment Management LLC increased its stake in JPMorgan Chase & Co. by 14.9% in the 1st quarter. Macroview Investment Management LLC now owns 996 shares of the financial services provider's stock worth $244,000 after buying an additional 129 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after buying an additional 454,226 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Down 0.5%

Shares of NYSE JPM opened at $286.78 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $796.99 billion, a P/E ratio of 14.08, a PEG ratio of 2.64 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $296.40. The firm has a 50-day simple moving average of $270.98 and a two-hundred day simple moving average of $256.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.44 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.

Insider Activity

In other news, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel owned 68,757 shares of the company's stock, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the sale, the director directly owned 91,539 shares of the company's stock, valued at $22,884,750. This represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock worth $18,060,015 in the last ninety days. 0.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. HSBC restated a "reduce" rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research report on Friday, June 27th. Piper Sandler restated a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Royal Bank Of Canada set a $305.00 price objective on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, June 30th. Finally, Citigroup set a $275.00 price objective on JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $284.42.

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.

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