Comerica Bank Cuts Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Comerica Bank has reduced its stake in JPMorgan Chase & Co. by 3.2%, owning 1,166,594 shares valued at approximately $286 million as of the latest SEC filing.
• Recent insider trading activity includes COO Jennifer Piepszak selling 6,128 shares, reducing her ownership by 8.94%.
• JPMorgan's stock has experienced mixed ratings from analysts, with revisions including a downgrade to "moderate sell" by HSBC and an increase in price targets by Wells Fargo to $325.00.

Comerica Bank reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,166,594 shares of the financial services provider's stock after selling 37,987 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.2% of Comerica Bank's portfolio, making the stock its 8th biggest holding. Comerica Bank's holdings in JPMorgan Chase & Co. were worth $286,165,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $28,000. University of Illinois Foundation acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $30,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $33,000. Measured Risk Portfolios Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $44,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $54,000. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

JPM has been the topic of several research analyst reports. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Morgan Stanley boosted 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. Finally, Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $295.9920 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The firm's 50-day simple moving average is $288.92 and its 200-day simple moving average is $264.42. JPMorgan Chase & Co. has a twelve month low of $200.61 and a twelve month high of $301.29. The firm has a market cap of $813.90 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same period in the previous year, the business earned $6.12 EPS. The firm's revenue was down 10.5% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS 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.

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