JPMorgan Chase & Co. $JPM Position Lowered by Wesbanco Bank Inc.

Key Points

• Wesbanco Bank Inc. reduced its JPMorgan Chase stake by 3.9% in the fourth quarter, selling 12,145 shares and leaving it with 296,968 shares worth about $95.7 million.
• JPMorgan reported strong quarterly results, posting EPS of $5.94 versus estimates of $5.50 and revenue of $50.54 billion, both ahead of analyst expectations. Revenue rose 10% year over year.
• The bank also maintained a quarterly dividend of $1.50 per share, equal to a $6.00 annualized payout and a 2.0% yield, while analysts currently rate the stock a consensus Moderate Buy with an average price target of $338.12.

Wesbanco Bank Inc. lessened its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 296,968 shares of the financial services provider's stock after selling 12,145 shares during the quarter. JPMorgan Chase & Co. makes up about 2.6% of Wesbanco Bank Inc.'s investment portfolio, making the stock its 6th largest position. Wesbanco Bank Inc.'s holdings in JPMorgan Chase & Co. were worth $95,689,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Howard Capital Management Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 18.2% in the fourth quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider's stock valued at $8,308,000 after acquiring an additional 3,976 shares in the last quarter. Andra AP fonden boosted its holdings in shares of JPMorgan Chase & Co. by 3.2% in the third quarter. Andra AP fonden now owns 107,700 shares of the financial services provider's stock valued at $33,972,000 after acquiring an additional 3,300 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 51.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider's stock valued at $2,862,000 after acquiring an additional 3,027 shares in the last quarter. Banco Santander S.A. boosted its holdings in shares of JPMorgan Chase & Co. by 9.0% in the third quarter. Banco Santander S.A. now owns 452,612 shares of the financial services provider's stock valued at $142,767,000 after acquiring an additional 37,550 shares in the last quarter. Finally, Brighton Jones LLC boosted its holdings in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after acquiring an additional 4,841 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.0%

Shares of NYSE JPM opened at $297.93 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 52 week low of $256.00 and a 52 week high of $337.25. The firm has a 50-day moving average price of $299.67 and a 200 day moving average price of $307.35. The stock has a market capitalization of $798.31 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.45 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating 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 firm had revenue of $50.54 billion during the quarter, compared to analysts' expectations of $48.30 billion. During the same quarter last year, the business earned $5.07 earnings per share. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. Equities research analysts anticipate that JPMorgan Chase & Co. will post 22.43 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were paid a $1.50 dividend. The ex-dividend date was Monday, April 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.74%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an "overweight" rating on the stock in a report on Tuesday, February 17th. Argus lifted their target price on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, February 24th. DZ Bank reaffirmed a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Finally, Truist Financial lifted their target price on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a "hold" rating in a report on Wednesday, April 15th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and a consensus price target of $338.12.

Key Stories Impacting JPMorgan Chase & Co.

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

Insider Transactions at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 3,022 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of the sale, the chief operating officer owned 85,082 shares of the company's stock, valued at $26,326,072.44. This trade represents a 5.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 79,849 shares of company stock valued at $24,522,956. 0.41% of the stock is owned by company insiders.

JPMorgan Chase & Co. Profile

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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