Hancock Whitney Corp Sells 2,718 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Hancock Whitney Corp reduced its position in JPMorgan Chase & Co. by 1.4% during the first quarter, holding a total of 191,734 shares worth approximately $47 million.
• Recent analyst reports have led to changes in ratings for JPMorgan, with Morgan Stanley raising its target price to $298, while others downgraded it to "hold".
• JPMorgan Chase & Co. reported earnings of $4.96 per share, surpassing analyst expectations, though revenue declined by 10.5% year-over-year.

Hancock Whitney Corp decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 191,734 shares of the financial services provider's stock after selling 2,718 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.5% of Hancock Whitney Corp's portfolio, making the stock its 12th biggest position. Hancock Whitney Corp's holdings in JPMorgan Chase & Co. were worth $47,032,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. in the 1st quarter worth $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Measured Risk Portfolios Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $44,000. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $54,000. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on JPM shares. Morgan Stanley boosted their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Truist Financial boosted their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $291.67.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM traded down $9.04 during midday trading on Friday, reaching $294.79. 9,831,520 shares of the company's stock traded hands, compared to its average volume of 6,437,430. The company has a market cap of $810.59 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 1.96 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. JPMorgan Chase & Co. has a one year low of $200.61 and a one year high of $305.15. The stock has a 50 day moving average of $293.16 and a 200 day moving average of $266.02.

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 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same period in the prior year, the firm earned $6.12 EPS. The company's revenue was down 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

About JPMorgan Chase & Co.

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.