JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by First National Trust Co

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 stake 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 Form 13F filing with the Securities & Exchange Commission. The firm owned 185,983 shares of the financial services provider's stock after selling 7,128 shares during the period. JPMorgan Chase & Co. accounts for about 1.8% of First National Trust Co's investment portfolio, making the stock its 11th biggest holding. First National Trust Co's holdings in JPMorgan Chase & Co. were worth $45,622,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Tredje AP fonden lifted its holdings in shares of JPMorgan Chase & Co. by 24.0% during the 1st quarter. Tredje AP fonden now owns 1,015,040 shares of the financial services provider's stock valued at $248,989,000 after purchasing an additional 196,584 shares during the last quarter. Squire Investment Management Company LLC increased its position in shares of JPMorgan Chase & Co. by 10.7% in the 1st quarter. Squire Investment Management Company LLC now owns 2,455 shares of the financial services provider's stock valued at $602,000 after acquiring an additional 237 shares during the period. Vestcor Inc increased its position in shares of JPMorgan Chase & Co. by 1.9% in the 1st quarter. Vestcor Inc now owns 53,992 shares of the financial services provider's stock valued at $13,244,000 after acquiring an additional 981 shares during the period. Brucke Financial Inc. increased its position in shares of JPMorgan Chase & Co. by 6.9% in the 1st quarter. Brucke Financial Inc. now owns 7,650 shares of the financial services provider's stock valued at $1,871,000 after acquiring an additional 492 shares during the period. Finally, FOCUS Wealth Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 5.4% in the 1st quarter. FOCUS Wealth Advisors LLC now owns 1,355 shares of the financial services provider's stock valued at $332,000 after acquiring an additional 69 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analyst Ratings Changes

JPM has been the topic of several research reports. KGI Securities initiated coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a "hold" rating on the stock. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. HSBC reaffirmed a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company increased their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Price Performance

JPM traded up $0.07 during trading on Wednesday, reaching $291.44. The company's stock had a trading volume of 6,326,839 shares, compared to its average volume of 10,062,375. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a fifty day simple moving average of $282.23 and a two-hundred day simple moving average of $262.14. JPMorgan Chase & Co. has a 1 year low of $200.20 and a 1 year high of $301.29. The company has a market cap of $809.93 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.97 and a beta of 1.11.

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

JPMorgan Chase & Co. Announces Dividend

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

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 that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares in the company, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,557 shares of company stock worth $4,113,796. 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.