JPMorgan Chase & Co. $JPM Shares Sold by Bank of Hawaii

Key Points

• Bank of Hawaii reduced its JPMorgan stake by 17% in the fourth quarter, selling 6,192 shares and ending with 30,277 shares valued at about $9.76 million.
• Institutional ownership remains very high, with funds and other large investors holding 71.55% of JPMorgan’s stock; several firms increased positions, including Morgan Stanley and Bank of New York Mellon.
• JPMorgan’s latest results were strong, as it reported $5.94 EPS versus the $5.50 estimate and $50.54 billion in revenue, while also announcing a quarterly dividend of $1.50 per share.

Bank of Hawaii lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 17.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 30,277 shares of the financial services provider's stock after selling 6,192 shares during the period. Bank of Hawaii's holdings in JPMorgan Chase & Co. were worth $9,756,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of JPM. Morgan Stanley lifted its holdings in JPMorgan Chase & Co. by 1.4% in the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider's stock valued at $21,390,662,000 after acquiring an additional 939,421 shares during the period. Norges Bank purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $11,396,496,000. Bank of New York Mellon Corp grew its stake in shares of JPMorgan Chase & Co. by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider's stock worth $7,547,837,000 after purchasing an additional 1,194,583 shares during the period. Legal & General Group Plc grew its stake in shares of JPMorgan Chase & Co. by 0.6% during the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider's stock worth $6,128,484,000 after purchasing an additional 110,586 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider's stock valued at $5,161,532,000 after purchasing an additional 296,213 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Analysts Set New Price Targets

JPM has been the topic of several analyst reports. DZ Bank restated a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Barclays reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, May 6th. Zacks Research cut JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 8th. Daiwa Securities Group dropped their target price on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 7th. Finally, Robert W. Baird set a $295.00 price target on JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $339.08.

JPMorgan Chase & Co. Trading Up 0.0%

Shares of JPMorgan Chase & Co. stock opened at $325.28 on Friday. The firm has a market capitalization of $871.58 billion, a PE ratio of 15.58, a P/E/G ratio of 1.51 and a beta of 1.00. JPMorgan Chase & Co. has a twelve month low of $272.11 and a twelve month high of $338.09. The firm's 50-day moving average price is $309.17 and its 200 day moving average price is $307.69. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. The business had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The business's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $5.07 earnings per share. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 22.44 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a $1.50 dividend. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.74%.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan was highlighted as a long-term favorite by multiple market commentators, with articles pointing to Jamie Dimon’s leadership, a strong balance sheet, and the bank’s durable profit record. Jamie Dimon’s Savvy Leadership, Bold Initiatives Keep JPMorgan Chase on Top
• Positive Sentiment: The bank’s planned expansion of the Chase digital bank into at least five European countries over the next five years suggests a new growth avenue that could widen its customer base and support future revenue. JPMorgan Chase & Co. (JPM) – Among the Top 10 Dividend Stocks to Buy According to Reddit
• Positive Sentiment: JPMorgan was also linked to a new Morningstar collaboration with Apollo and Franklin Templeton on model portfolios, reinforcing JPMorgan’s role in wealth-management product innovation. Morningstar (MORN) Teams Up With Apollo, Franklin Templeton, And JPMorgan On New Models
• Neutral Sentiment: Several articles simply reaffirmed JPMorgan as a top dividend or long-term holding, which is supportive sentiment but does not by itself change the near-term earnings outlook. Why JPMorgan Chase & Co. (JPM) is a Top Stock for the Long-Term
• Negative Sentiment: Offsetting the positives, the DOJ is probing transactions tied to a business network linked to Iran’s supreme leader, and JPMorgan was named in the coverage. That adds regulatory and reputational risk, which can pressure the shares if the investigation deepens. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader's business network

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 433 shares of the business's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $295.06, for a total transaction of $127,760.98. Following the transaction, the insider directly owned 64,920 shares in the company, valued at approximately $19,155,295.20. The trade was a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 5,468 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the sale, the general counsel directly owned 46,428 shares of the company's stock, valued at approximately $13,940,935.56. This represents a 10.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 28,589 shares of company stock worth $8,747,496. Company insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.