JPMorgan Chase & Co. $JPM Position Lifted by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its stake in JPMorgan Chase & Co. by 3.8%, now owning approximately $657.81 million worth of the shares, representing 2.3% of its portfolio.
• JPMorgan's recent quarterly earnings report showed an EPS of $4.96, exceeding analysts' expectations and reflecting a revenue decrease of 10.5% year-over-year.
• The company recently announced a dividend increase to $1.50 per share, which translates to a 1.9% dividend yield on an annualized basis.

Fifth Third Bancorp lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,269,020 shares of the financial services provider's stock after acquiring an additional 84,041 shares during the period. JPMorgan Chase & Co. accounts for approximately 2.3% of Fifth Third Bancorp's portfolio, making the stock its 9th biggest position. Fifth Third Bancorp owned about 0.08% of JPMorgan Chase & Co. worth $657,812,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Ryan Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at about $37,000. Finally, Christopher J. Hasenberg Inc raised its holdings in JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after buying an additional 106 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was 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 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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several research analyst reports. Zacks Research lowered shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Truist Financial lifted their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a research report on Tuesday. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Finally, Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a research report on Friday, June 27th. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Hold" and an average price target of $297.17.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $316.12 on Friday. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $317.81. The company has a market cap of $869.25 billion, a PE ratio of 16.22, a P/E/G ratio of 2.07 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. The business has a 50-day simple moving average of $298.96 and a 200-day simple moving average of $271.68.

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, topping analysts' consensus estimates 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 business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the previous year, the company posted $6.12 earnings per share. The business's revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

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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