First National Trust Co Sells 7,128 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• First National Trust Co. reduced its stake in JPMorgan Chase & Co. by 3.7% during the first quarter, making it the trust's 11th largest holding, valued at approximately $45.62 million.
• The stock has seen increased interest from various institutional investors, with 71.55% of the shares currently owned by these entities.
• JPMorgan reported a quarterly earnings per share of $4.96, surpassing estimates, though revenue was down by 10.5% compared to the previous year.

First National Trust Co lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 185,983 shares of the financial services provider's stock after selling 7,128 shares during the quarter. JPMorgan Chase & Co. makes up about 1.8% of First National Trust Co's investment portfolio, making the stock its 11th largest position. First National Trust Co's holdings in JPMorgan Chase & Co. were worth $45,622,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in JPM. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $28,000. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $29,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $33,000. Investment Counsel Co. of Nevada bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $37,000. Finally, Measured Risk Portfolios Inc. bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $44,000. Institutional investors own 71.55% of the company's stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares in the company, valued at $18,269,422.47. This represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the sale, the chief operating officer owned 62,455 shares of the company's stock, valued at $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,557 shares of company stock valued at $4,113,796 over the last 90 days. Corporate insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. HSBC reiterated a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. TD Cowen assumed coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 target price on the stock. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a report on Friday, June 27th. Three 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Price Performance

NYSE:JPM traded up $2.23 during trading hours on Friday, reaching $289.17. 4,340,995 shares of the company were exchanged, compared to its average volume of 10,009,720. The company has a market capitalization of $803.63 billion, a P/E ratio of 14.84, a P/E/G ratio of 1.94 and a beta of 1.11. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. The business has a 50 day moving average of $283.24 and a 200 day moving average of $262.53.

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

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were paid a dividend of $1.40 per share. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

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.