JPMorgan Chase & Co. $JPM Shares Acquired by First Pacific Financial

Key Points

• First Pacific Financial increased its stake in JPMorgan Chase & Co. by 530.2% during Q2, now holding 21,104 shares valued at approximately $6.1 million.
• JPMorgan Chase & Co. reported $4.96 earnings per share (EPS), beating estimates, but the revenue declined 10.5% compared to the previous year.
• The company has declared a quarterly dividend of $1.50, up from $1.40, which provides a 2.0% yield for shareholders.

First Pacific Financial lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 530.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,104 shares of the financial services provider's stock after buying an additional 17,755 shares during the period. JPMorgan Chase & Co. makes up approximately 0.9% of First Pacific Financial's investment portfolio, making the stock its 17th biggest holding. First Pacific Financial's holdings in JPMorgan Chase & Co. were worth $6,118,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in JPM. Kingstone Capital Partners Texas LLC raised its holdings in shares of JPMorgan Chase & Co. by 609,867.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock worth $21,133,630,000 after purchasing an additional 72,885,260 shares during the last quarter. Nuveen LLC purchased a new position in shares of JPMorgan Chase & Co. during the first quarter worth $3,972,807,000. National Bank of Canada FI raised its holdings in shares of JPMorgan Chase & Co. by 44.4% during the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock worth $1,108,415,000 after purchasing an additional 1,388,992 shares during the last quarter. Strs Ohio purchased a new position in shares of JPMorgan Chase & Co. during the first quarter worth $279,389,000. Finally, Alecta Tjanstepension Omsesidigt purchased a new position in shares of JPMorgan Chase & Co. during the first quarter worth $278,493,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.5%

Shares of NYSE JPM opened at $307.61 on Wednesday. The company's 50-day simple moving average is $301.10 and its 200-day simple moving average is $275.67. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The firm has a market cap of $845.85 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 2.03 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.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results 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 business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter last year, the business earned $6.12 earnings per share. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a $1.50 dividend. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is 30.79%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JPM. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. HSBC reissued a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a "hold" rating in a research report on Tuesday, September 30th. Fifteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Hold" and a consensus target price of $309.95.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.47% of the company's stock.

About JPMorgan Chase & Co.

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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