Citizens Business Bank Lowers Stake in JPMorgan Chase & Co. $JPM

Key Points

• Citizens Business Bank cut its JPMorgan Chase stake by 23.8% in the first quarter, selling 7,781 shares and leaving it with 24,919 shares worth about $7.33 million.
• Insider selling continued, with CFO Jeremy Barnum and General Counsel Stacey Friedman both selling shares under pre-arranged trading plans; insiders have sold 18,876 shares worth about $5.9 million over the last three months.
• Analysts remain mostly bullish on JPMorgan despite some mixed ratings changes, with 15 Buy ratings and 13 Hold ratings and an average price target of $354.92. The stock also recently traded near $343 after a strong earnings report that beat expectations.

Citizens Business Bank decreased its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 23.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,919 shares of the financial services provider's stock after selling 7,781 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.2% of Citizens Business Bank's portfolio, making the stock its 21st largest position. Citizens Business Bank's holdings in JPMorgan Chase & Co. were worth $7,330,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in JPM. Fidelis Capital Partners LLC increased its holdings in JPMorgan Chase & Co. by 7.9% during the 4th quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider's stock worth $22,580,000 after purchasing an additional 5,101 shares during the period. Howard Capital Management Inc. boosted its stake in shares of JPMorgan Chase & Co. by 18.2% in the 4th quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider's stock valued at $8,308,000 after buying an additional 3,976 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in shares of JPMorgan Chase & Co. by 51.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider's stock valued at $2,862,000 after buying an additional 3,027 shares during the period. Brighton Jones LLC grew its position in shares of JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after buying an additional 4,841 shares in the last quarter. Finally, KTF Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $6,449,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Jeremy Barnum sold 3,022 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the transaction, the chief financial officer directly owned 32,438 shares of the company's stock, valued at $10,036,641.58. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the transaction, the general counsel owned 40,961 shares of the company's stock, valued at approximately $13,547,031.53. This represents a 11.78% 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. In the last three months, insiders sold 18,876 shares of company stock worth $5,907,051. Company insiders own 0.41% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on JPM shares. Morgan Stanley restated a "positive" rating and issued a $370.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock an "overweight" rating in a research note on Wednesday. The Goldman Sachs Group reissued a "buy" rating and issued a $418.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday. Zacks Research cut JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 8th. Finally, UBS Group lifted their price target on JPMorgan Chase & Co. from $375.00 to $384.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Fifteen investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $354.92.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan reported blowout Q2 results, including record net income of $21.2 billion, with CEO Jamie Dimon saying the economy remains “close to as good as it gets.” The bank also posted strong trading and investment banking performance. 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 turned more bullish after earnings, with Bank of America, Keefe, Bruyette & Woods, and Truist all lifting price targets, reflecting confidence in JPMorgan’s profitability, capital flexibility, and guidance for stronger net interest income. Analyst price-target updates
• Positive Sentiment: JPMorgan raised its full-year net interest income outlook to $105.5 billion, signaling that core lending revenue remains resilient even after the Federal Reserve’s policy changes. JPMorgan Chase Just Posted 86% Growth in Equities Trading Revenue and Raised Its Full-Year Net Interest Income Guidance to $105.5 Billion
• Neutral Sentiment: JPMorgan continued to show market leadership and a path toward a possible $1 trillion valuation, helped by its scale in lending, trading, and dealmaking, but that milestone may also be encouraging some short-term profit taking after the stock’s sharp run. Dimon-led JPMorgan poised to become world's first $1 trillion bank
• Neutral Sentiment: The bank also announced a $24 million investment in Philadelphia shipbuilding and defense manufacturing, which supports its long-term industrial finance strategy but is unlikely to move the stock materially by itself. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Some commentary focused on JPMorgan’s higher expense outlook following earnings, suggesting costs could rise faster than investors expected and tempering enthusiasm after the strong report. Its Dividend Looks Secure, But Don’t Chase JPM Stock After Q2 Earnings. Here’s Why.

JPMorgan Chase & Co. Trading Down 1.1%

Shares of JPM stock opened at $343.02 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $919.14 billion, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 1.57 and a beta of 0.99. The business's 50 day moving average is $318.31 and its two-hundred day moving average is $310.09. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $351.24.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating analysts' consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter last year, the firm earned $5.07 earnings per share. The firm's revenue was up 10.0% compared to the same quarter last year. Equities analysts forecast that JPMorgan Chase & Co. will post 22.95 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 25.71%.

JPMorgan Chase & Co. Profile

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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