City National Bank of Florida MSD Has $774,000 Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• City National Bank of Florida MSD increased its stake in JPMorgan Chase & Co. by 37.5%, now holding shares worth $774,000 and ranking as its 23rd largest position.
• JPMorgan Chase's latest quarterly earnings showed earnings per share of $4.96, exceeding estimates, but revenue declined 10.5% year-over-year to $44.91 billion.
• Recent analysis predicts a consensus price target of $288.68 for JPMorgan, with a "Moderate Buy" rating from analysts, signifying ongoing interest in the stock.

City National Bank of Florida MSD boosted its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 37.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,157 shares of the financial services provider's stock after buying an additional 861 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.7% of City National Bank of Florida MSD's holdings, making the stock its 23rd biggest holding. City National Bank of Florida MSD's holdings in JPMorgan Chase & Co. were worth $774,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Brighton Jones LLC lifted its position in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after purchasing an additional 4,841 shares during the period. Bank Pictet & Cie Europe AG raised its stake in shares of JPMorgan Chase & Co. by 0.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after buying an additional 1,229 shares in the last quarter. Highview Capital Management LLC DE lifted its holdings in shares of JPMorgan Chase & Co. by 16.1% in the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after buying an additional 1,893 shares during the period. KKM Financial LLC boosted its stake in JPMorgan Chase & Co. by 3.9% during the fourth quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock valued at $4,040,000 after buying an additional 640 shares in the last quarter. Finally, Core Wealth Partners LLC lifted its holdings in JPMorgan Chase & Co. by 6.9% in the 4th quarter. Core Wealth Partners LLC now owns 8,359 shares of the financial services provider's stock valued at $2,004,000 after acquiring an additional 540 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on JPM. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a "hold" rating for the company. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Phillip Securities lowered shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Finally, Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Stock Down 2.4%

Shares of NYSE:JPM traded down $7.03 during trading on Friday, hitting $289.21. 12,005,470 shares of the company's stock traded hands, compared to its average volume of 10,131,769. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. The company has a 50-day moving average price of $280.47 and a 200-day moving average price of $261.28. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $301.29. The company has a market cap of $803.74 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 2.02 and a beta of 1.10.

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

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

Insider Transactions at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the transaction, the chief financial officer directly owned 18,017 shares of the company's stock, valued at $4,518,123.09. This trade represents a 68.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock worth $18,060,015 in the last 90 days. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. 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.