JPMorgan Chase & Co. $JPM Shares Sold by Cadence Bank

Key Points

• Cadence Bank has reduced its stake in JPMorgan Chase & Co. by 2.6%, now holding 54,410 shares worth approximately $13.35 million.
• JPMorgan's latest earnings report showed $4.96 EPS, exceeding estimates, but revenue decreased 10.5% year-over-year to $44.91 billion.
• Analysts have raised their target prices for JPMorgan Chase, with Bank of America setting a new target of $340.00 and maintaining a "buy" rating.

Cadence Bank trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,410 shares of the financial services provider's stock after selling 1,450 shares during the period. JPMorgan Chase & Co. comprises approximately 1.0% of Cadence Bank's holdings, making the stock its 22nd largest holding. Cadence Bank's holdings in JPMorgan Chase & Co. were worth $13,347,000 as of its most recent SEC filing.

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

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $295.9920 on Friday. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29. The firm has a market capitalization of $813.91 billion, a PE ratio of 15.19, a PEG ratio of 1.94 and a beta of 1.11. The business's 50 day moving average is $288.92 and its 200-day moving average is $264.46. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.JPMorgan Chase & Co.'s revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $6.12 EPS. Sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value 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. The trade was a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent analyst reports. Bank of America raised their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods raised their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Finally, Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

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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