JPMorgan Chase & Co. $JPM is Ballast Advisors LLC's 8th Largest Position

Key Points

• Ballast Advisors LLC trimmed its JPMorgan Chase stake by 8.4% in the fourth quarter, but JPM still remains its 8th-largest holding at 3.6% of the portfolio, worth about $13.16 million.
• Analysts remain constructive on JPMorgan Chase, with several recent price-target increases and a consensus rating of “Moderate Buy” and target price of $338.12.
• The bank posted a strong quarterly beat, reporting EPS of $5.94 versus $5.50 expected and revenue of $50.54 billion, while also paying a $1.50 quarterly dividend that annualizes to a 2.0% yield.

Ballast Advisors LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,840 shares of the financial services provider's stock after selling 3,765 shares during the quarter. JPMorgan Chase & Co. accounts for about 3.6% of Ballast Advisors LLC's investment portfolio, making the stock its 8th biggest holding. Ballast Advisors LLC's holdings in JPMorgan Chase & Co. were worth $13,159,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mountain Hill Investment Partners Corp. bought a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at about $32,000. Turning Point Benefit Group Inc. bought a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at about $35,000. Cresta Advisors Ltd. bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at about $48,000. Miller Global Investments LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at about $52,000. Finally, Collier Financial bought a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at about $60,000. 71.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a "hold" rating in a research note on Tuesday. Evercore lifted their price target on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Friday, April 17th. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, February 24th. Finally, Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Sunday, January 18th. Fifteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus target price of $338.12.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 9,136 shares of the business's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the completion of the sale, the chief operating officer directly owned 90,001 shares of the company's stock, valued at approximately $27,590,706.56. The trade was a 9.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of the business's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the sale, the chief executive officer directly owned 111,279 shares of the company's stock, valued at $34,174,893.69. This represents a 31.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 79,849 shares of company stock valued at $24,522,956. Insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.7%

Shares of JPM opened at $297.93 on Friday. The company's fifty day moving average is $299.67 and its 200 day moving average is $307.32. JPMorgan Chase & Co. has a fifty-two week low of $256.00 and a fifty-two week high of $337.25. The stock has a market capitalization of $798.31 billion, a PE ratio of 14.27, a P/E/G ratio of 1.46 and a beta of 1.03. 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. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The company had revenue of $50.54 billion for the quarter, compared to analysts' expectations of $48.30 billion. During the same quarter in the previous year, the business posted $5.07 earnings per share. JPMorgan Chase & Co.'s quarterly revenue was up 10.0% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 22.42 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 6th were given a dividend of $1.50 per share. The ex-dividend date was Monday, April 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is 28.74%.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorganChase declared dividends on its Series II, OO and PP preferred stock, signaling continued capital return and financial stability. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: Reuters reported that JPMorgan’s long-running push into early-stage tech banking is paying off, with the firm now leading global technology investment banking and winning business from startup clients early in their growth cycle. JPMorgan's bet on early-stage companies pays off in leading global tech investment banking
• Positive Sentiment: Chase continued expanding its branch network, opening 18 new branches in May as part of a multibillion-dollar expansion, which supports deposit gathering and retail growth over time. Chase Opens 18 Branches in May Amid Multibillion-Dollar Expansion

About JPMorgan Chase & Co.

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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