Glenview Trust Co Decreases Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Glenview Trust Co trimmed its JPMorgan Chase stake by 1.9% in the fourth quarter, selling 7,926 shares and leaving it with 399,413 shares valued at about $128.7 million.
• JPMorgan’s latest quarterly results beat expectations, with EPS of $5.94 and revenue of $50.54 billion, both above analyst estimates. Revenue rose 10% year over year, and analysts now expect full-year EPS of 22.4.
• The company also announced a quarterly dividend of $1.50 per share, implying a 2.0% annual yield, while Wall Street remains broadly constructive with a Moderate Buy consensus and a price target of $339.08.

Glenview Trust Co reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 399,413 shares of the financial services provider's stock after selling 7,926 shares during the quarter. JPMorgan Chase & Co. accounts for 2.0% of Glenview Trust Co's portfolio, making the stock its 12th largest position. Glenview Trust Co's holdings in JPMorgan Chase & Co. were worth $128,699,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of JPM. Legal & General Group Plc lifted its position in shares of JPMorgan Chase & Co. by 3.3% during the third quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider's stock worth $5,964,459,000 after purchasing an additional 607,025 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of JPMorgan Chase & Co. by 2.3% during the third quarter. Fisher Asset Management LLC now owns 15,722,443 shares of the financial services provider's stock worth $4,959,330,000 after purchasing an additional 347,033 shares in the last quarter. Invesco Ltd. lifted its position in shares of JPMorgan Chase & Co. by 2.3% during the third quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider's stock worth $4,622,675,000 after purchasing an additional 322,735 shares in the last quarter. Boston Partners lifted its position in shares of JPMorgan Chase & Co. by 2.3% during the third quarter. Boston Partners now owns 7,492,763 shares of the financial services provider's stock worth $2,360,045,000 after purchasing an additional 168,184 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of JPMorgan Chase & Co. by 19.6% during the third quarter. California Public Employees Retirement System now owns 6,615,749 shares of the financial services provider's stock worth $2,086,806,000 after purchasing an additional 1,082,913 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan is being highlighted as a diversified, defensive stock outside the AI trade, which may attract investors looking for safety and quality in a rotation away from tech. Jim Cramer says look to buy these 5 stocks outside the AI trade for diversification
• Positive Sentiment: Analysts expect JPMorgan’s Q2 fee income to improve, supported by stronger markets revenue and investment banking fees, which could boost earnings expectations. JPMorgan's Bullish Q2 Outlook Highlights Fee Income Potential
• Positive Sentiment: JPMorgan expanded a $500 million fixed-to-floating notes offering, reinforcing its active capital markets franchise and funding flexibility. JPMorgan Chase Expands 2030 Fixed-to-Floating Notes Offering
• Neutral Sentiment: JPMorgan CEO Jamie Dimon reportedly flagged a possible $20 billion acquisition and continued European expansion, which keeps deal-making and growth optionality in focus but adds uncertainty on execution. JPMorgan Weighs US$20b Deal While Expanding In Europe And Crypto Debate
• Neutral Sentiment: Zacks noted that JPMorgan has recently been outperforming the market, reflecting continued investor confidence in the bank’s fundamentals. JPMorgan Chase & Co. (JPM) Exceeds Market Returns: Some Facts to Consider

JPMorgan Chase & Co. Stock Up 1.6%

JPMorgan Chase & Co. stock opened at $301.32 on Wednesday. The company has a 50-day simple moving average of $302.65 and a 200-day simple moving average of $306.58. The firm has a market capitalization of $807.38 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.45 and a beta of 1.00. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. JPMorgan Chase & Co. has a one year low of $260.31 and a one year high of $337.25.

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, topping the consensus estimate of $5.50 by $0.44. The business had revenue of $50.54 billion during 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 company's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.07 earnings per share. As a group, equities analysts expect that JPMorgan Chase & Co. will post 22.4 earnings per share for the current 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 $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.74%.

Wall Street Analyst Weigh In

Several research firms have weighed in on JPM. Truist Financial boosted their target price on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a "hold" rating in a research note on Wednesday, April 15th. Evercore boosted their target price on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Robert W. Baird set a $295.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Finally, The Goldman Sachs Group set a $361.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, April 14th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $339.08.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,468 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the sale, the general counsel directly owned 46,428 shares of the company's stock, valued at approximately $13,940,935.56. This represents a 10.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of the sale, the chief operating officer directly owned 85,082 shares of the company's stock, valued at $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. 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 a total of 28,589 shares of company stock valued at $8,747,496 over the last 90 days. Insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Company 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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