Cumberland Partners Ltd Has $11.17 Million Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Cumberland Partners increased its JPMorgan Chase stake by 29% in the first quarter, bringing its holdings to 37,958 shares valued at approximately $11.17 million.
• JPMorgan reported strong quarterly results, with earnings of $6.14 per share and revenue of $58.02 billion, exceeding analyst estimates; shares opened at $356.15, near their 12-month high.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $358.67. The bank also declared a quarterly dividend of $1.50 per share, representing a 1.7% yield.

Cumberland Partners Ltd increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 29.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,958 shares of the financial services provider's stock after acquiring an additional 8,531 shares during the quarter. Cumberland Partners Ltd's holdings in JPMorgan Chase & Co. were worth $11,166,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on JPM. Jefferies Financial Group set a $350.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Argus upped their price objective on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. HSBC raised their price objective on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a report on Monday, May 4th. Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Finally, DZ Bank reissued a "neutral" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $358.67.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: Strong earnings momentum: JPMorgan’s record second-quarter performance, including sharply higher earnings and revenue that exceeded analyst expectations, has reinforced investor confidence in its lending, trading and investment-banking operations. JPMorgan and Goldman Posted Record Quarters
• Positive Sentiment: Rising earnings estimates: Analysts are increasing their profit forecasts for JPMorgan, a trend that can support further near-term gains as investors reassess the bank’s earnings outlook. Earnings Estimates Rising for JPMorgan Chase
• Positive Sentiment: New payments opportunity: South Korea’s KB Kookmin Bank plans to use JPMorgan’s Kinexys blockchain for cross-border U.S.-dollar payments across 10 countries. The agreement highlights potential growth for JPMorgan’s institutional payments and digital-assets infrastructure. South Korea’s Largest Bank to Launch Payment Service on JPMorgan’s Kinexys
• Positive Sentiment: AI and efficiency appeal: Analysts continue to view JPMorgan favorably as it applies artificial intelligence to reduce costs and improve productivity, while maintaining strong cash generation and a diversified revenue base. These 3 AI Winners Don’t Sell the Tech—They Use It
• Neutral Sentiment: CEO Jamie Dimon’s account of his 2020 health crisis is personal and does not materially change JPMorgan’s current earnings or valuation outlook. Jamie Dimon Reveals the Moment He Knew It Might Be Goodbye
• Negative Sentiment: Risk warnings temper optimism: Dimon cautioned that investors may be underestimating geopolitical, fiscal and valuation risks. Rising consumer credit-card delinquencies and unusually volatile markets also represent potential pressure on future loan quality and results. Jamie Dimon Said Markets Are Underestimating Risks

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 3,022 shares of the company's stock in a transaction 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 transaction, the chief financial officer directly owned 32,438 shares of the company's stock, valued at $10,036,641.58. This represents a 8.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the transaction, the chief operating officer directly owned 85,082 shares in the company, valued at approximately $26,326,072.44. This represents a 5.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 18,876 shares of company stock valued at $5,907,051. Company insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.8%

Shares of NYSE:JPM opened at $356.15 on Tuesday. The firm has a market cap of $954.30 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.47 and a beta of 0.99. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $359.05. The company's fifty day simple moving average is $324.84 and its 200 day simple moving average is $311.12.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.55. The company had revenue of $58.02 billion during the quarter, compared to analysts' expectations of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business's quarterly revenue was up 27.7% on a year-over-year basis. During the same period last year, the business earned $4.96 EPS. As a group, research analysts forecast that JPMorgan Chase & Co. will post 23.97 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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