Gotham Asset Management LLC Purchases 8,235 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Gotham Asset Management LLC increased its holdings in JPMorgan Chase & Co. by 11.4% during the first quarter, owning a total of 80,758 shares worth approximately $19.81 million.
• Multiple analysts have set new price targets for JPMorgan Chase & Co., with Bank of America raising its target from $330.00 to $340.00 and a consensus price target of $291.67.
• JPMorgan Chase & Co. reported strong earnings, with $4.96 EPS for the quarter, exceeding estimates and indicating a return on equity of 16.93% despite a year-over-year revenue decline of 10.5%.

Gotham Asset Management LLC increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,758 shares of the financial services provider's stock after purchasing an additional 8,235 shares during the quarter. Gotham Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $19,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Florida Financial Advisors LLC raised its holdings in JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after purchasing an additional 3,792 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $471,000. Crown Wealth Group LLC raised its stake in JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after buying an additional 222 shares in the last quarter. Mosaic Financial Group LLC lifted its holdings in JPMorgan Chase & Co. by 0.8% in the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock worth $2,280,000 after buying an additional 78 shares during the period. Finally, Morse Asset Management Inc lifted its holdings in JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after buying an additional 420 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on JPM shares. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, July 7th. Morgan Stanley raised their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Finally, Bank of America increased their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $291.67.

JPMorgan Chase & Co. Trading Down 3.0%

JPMorgan Chase & Co. stock opened at $294.79 on Friday. JPMorgan Chase & Co. has a 12 month low of $200.61 and a 12 month high of $305.15. The company has a market capitalization of $810.59 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 2.02 and a beta of 1.13. The business's fifty day simple moving average is $293.16 and its two-hundred day simple moving average is $266.12. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

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

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company's stock.

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.

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