First Financial Bankshares Inc Acquires 2,732 Shares of JPMorgan Chase & Co. $JPM

Key Points

• JPMorgan Chase & Co. is now the 3rd largest holding of First Financial Bankshares Inc, accounting for approximately 4.2% of their total portfolio with holdings worth $192.95 million.
• Analysts generally have a positive outlook on JPMorgan, with the stock receiving a consensus rating of "Moderate Buy" and a target price averaging $288.68.
• JPMorgan Chase & Co. reported earnings of $4.96 per share, exceeding estimates, despite a year-over-year revenue decline of 10.5%.

First Financial Bankshares Inc boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 786,589 shares of the financial services provider's stock after buying an additional 2,732 shares during the quarter. JPMorgan Chase & Co. makes up approximately 4.2% of First Financial Bankshares Inc's portfolio, making the stock its 3rd largest holding. First Financial Bankshares Inc's holdings in JPMorgan Chase & Co. were worth $192,950,000 as of its most recent SEC filing.

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

Insider Activity

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction 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. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on JPM shares. Truist Financial boosted their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Bank of America boosted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Morgan Stanley boosted their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Finally, Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $291.67.

JPMorgan Chase & Co. Stock Down 0.2%

NYSE:JPM traded down $0.71 during midday trading on Wednesday, reaching $298.99. 6,314,243 shares of the stock traded hands, compared to its average volume of 6,508,681. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $822.14 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 2.00 and a beta of 1.13. The business has a 50-day moving average of $292.41 and a two-hundred day moving average of $265.59. JPMorgan Chase & Co. has a 12-month low of $200.61 and a 12-month high of $302.95.

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

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.