Hodges Capital Management Inc. Decreases Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Hodges Capital Management Inc. reduced its holdings in JPMorgan Chase & Co. by 17.6%, selling 7,820 shares and now owning 36,487 shares worth approximately $8.95 million.
• Significant insider selling occurred as Director Linda Bammann sold 9,500 shares at an average price of $297.94, decreasing her position by 10.36%.
• JPMorgan Chase reported a Q2 EPS of $4.96, exceeding expectations, despite experiencing a year-over-year 10.5% decline in revenue.

Hodges Capital Management Inc. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 17.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,487 shares of the financial services provider's stock after selling 7,820 shares during the quarter. Hodges Capital Management Inc.'s holdings in JPMorgan Chase & Co. were worth $8,950,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of JPM. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. during the first quarter valued at $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. during the first quarter valued at $30,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. during the first quarter valued at $33,000. Capital A Wealth Management LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at $64,000. Finally, Mpwm Advisory Solutions LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at $72,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on 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 $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $305.39 on Friday. The firm has a market capitalization of $839.75 billion, a P/E ratio of 15.67, a PEG ratio of 2.00 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The company has a 50 day moving average price of $293.72 and a 200 day moving average price of $266.98. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $305.73.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data 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 during 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%. JPMorgan Chase & Co.'s revenue was down 10.5% on a year-over-year basis. During the same period last year, the firm posted $6.12 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JPM. Morgan Stanley boosted their price objective on shares of 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. Royal Bank Of Canada set a $305.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, June 30th. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, July 7th. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and an average target price of $291.67.

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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