First Horizon Corp Purchases 22,178 Shares of JPMorgan Chase & Co. $JPM

Key Points

• First Horizon Corp boosted its JPMorgan Chase stake by 16.5% in the first quarter, buying 22,178 more shares and bringing its total to 156,688 shares valued at about $46.1 million.
• JPMorgan posted strong quarterly results, reporting EPS of $5.94 versus estimates of $5.50 and revenue of $50.54 billion versus expectations of $48.30 billion, with revenue up 10% year over year.
• The bank also announced a quarterly dividend of $1.50 per share, equal to $6.00 annually and a 1.8% yield, while analysts remain mixed overall with a consensus rating of Hold and an average price target of $345.33.

First Horizon Corp increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 16.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 156,688 shares of the financial services provider's stock after buying an additional 22,178 shares during the period. JPMorgan Chase & Co. accounts for 1.9% of First Horizon Corp's holdings, making the stock its 5th biggest position. First Horizon Corp's holdings in JPMorgan Chase & Co. were worth $46,091,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Roxbury Financial LLC raised its holdings in JPMorgan Chase & Co. by 0.4% in the 4th quarter. Roxbury Financial LLC now owns 8,011 shares of the financial services provider's stock worth $2,581,000 after purchasing an additional 31 shares during the period. Collective Family Office LLC grew its holdings in JPMorgan Chase & Co. by 1.0% in the fourth quarter. Collective Family Office LLC now owns 3,339 shares of the financial services provider's stock valued at $1,076,000 after purchasing an additional 32 shares during the period. Essential Planning LLC. increased its position in shares of JPMorgan Chase & Co. by 2.4% in the fourth quarter. Essential Planning LLC. now owns 1,399 shares of the financial services provider's stock valued at $451,000 after buying an additional 33 shares in the last quarter. Tevis Investment Management increased its position in shares of JPMorgan Chase & Co. by 0.8% in the third quarter. Tevis Investment Management now owns 4,238 shares of the financial services provider's stock valued at $1,337,000 after buying an additional 34 shares in the last quarter. Finally, Spinnaker Investment Group LLC raised its stake in shares of JPMorgan Chase & Co. by 0.7% during the 4th quarter. Spinnaker Investment Group LLC now owns 5,183 shares of the financial services provider's stock worth $1,670,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $335.19 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $898.14 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.53 and a beta of 0.99. The company's 50-day moving average is $316.28 and its two-hundred day moving average is $309.76. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $343.45.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating the consensus estimate of $5.50 by $0.44. The firm had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.07 EPS. Analysts forecast that JPMorgan Chase & Co. will post 22.82 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.74%.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: Analysts and market coverage suggest JPMorgan could beat expectations on strong equities trading, investment banking, and overall banking-sector momentum heading into earnings. Bank Earnings Should Wow Wall Street. What's Driving Those Bottom Lines.
• Positive Sentiment: Bank of America analysts said major U.S. banks, including JPMorgan, could surprise to the upside as capital-markets activity and wealth-management flows remain supportive. US bank earnings could surprise to the upside as Bank of America highlights strong operating backdrop
• Positive Sentiment: JPMorgan’s own research on AI investing agents drew attention after the bank said the models beat traditional 60/40 portfolios in backtests, reinforcing a perception of innovation and potential future product differentiation. JPMorgan Chase (JPM) Says Its AI Agents Beat 60 40 Portfolios In Backtests
• Neutral Sentiment: JPMorgan Asset Management also released a retirement survey and promoted an internal leadership change at Campbell Global; these are positive for the franchise but unlikely to move JPM stock materially on their own. J.P. Morgan Asset Management Survey Finds Plan Participants Want an "Easy Button" and More Retirement Income Support Campbell Global Appoints Michael Barbara to Head of Global Acquisitions
• Negative Sentiment: Headline risk remains from renewed scrutiny over JPMorgan’s historical relationship with Epstein and related political questioning of Dimon, which could weigh on sentiment even if it does not change fundamentals. Dimon pressed over whether he lobbied UK government on Epstein’s advice

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research analyst reports. Bank of America lifted their price target on shares of JPMorgan Chase & Co. from $362.00 to $408.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. UBS Group increased their price objective on shares of JPMorgan Chase & Co. from $375.00 to $384.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Autonomous Res dropped their target price on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. Barclays reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, May 6th. Finally, Daiwa Securities Group reduced their price target on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating for the company in a research report on Tuesday, April 7th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $345.33.

Insider Activity at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 9,136 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total value of $2,800,732.16. Following the completion of the transaction, the chief operating officer owned 90,001 shares in the company, valued at approximately $27,590,706.56. This trade represents a 9.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the transaction, the general counsel owned 46,428 shares of the company's stock, valued at $13,940,935.56. This represents a 10.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 33,623 shares of company stock worth $10,427,835 in the last three months. 0.41% of the stock is owned by company insiders.

About JPMorgan Chase & Co.

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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