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

Key Points

• Comerica Bank cut its JPMorgan Chase position by 3.2% in the fourth quarter, selling 35,726 shares and leaving it with 1,069,071 shares valued at about $344.5 million.
• Several institutional investors have been adjusting their JPM stakes, though overall ownership remains high at 71.55% of the stock.
• JPMorgan reported strong quarterly results, with EPS of $5.94 beating estimates and revenue rising 10% year over year, while analysts currently rate the stock Moderate Buy with an average target price of $338.12.

Comerica Bank trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,069,071 shares of the financial services provider's stock after selling 35,726 shares during the period. JPMorgan Chase & Co. accounts for about 1.4% of Comerica Bank's portfolio, making the stock its 8th biggest holding. Comerica Bank's holdings in JPMorgan Chase & Co. were worth $344,476,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in JPM. Brighton Jones LLC lifted its holdings in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after purchasing an additional 4,841 shares during the last quarter. Acorns Advisers LLC lifted its holdings in JPMorgan Chase & Co. by 6.9% during the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock worth $379,000 after purchasing an additional 100 shares during the last quarter. Ignite Planners LLC lifted its holdings in JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider's stock worth $3,185,000 after purchasing an additional 78 shares during the last quarter. Jump Financial LLC acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $1,475,000. Finally, Betterment LLC lifted its holdings in JPMorgan Chase & Co. by 27.5% during the 2nd quarter. Betterment LLC now owns 1,970 shares of the financial services provider's stock worth $571,000 after purchasing an additional 425 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: Erste Group raised its FY2027 earnings-per-share estimate for JPMorgan, implying expectations for continued profit strength ahead. JPMorgan Chase & Co. trading and earnings background
• Positive Sentiment: JPMorgan’s role in the first near real-time cross-border tokenized U.S. Treasury redemption with Ripple, Mastercard, and Ondo highlights innovation in blockchain-based settlement and could support long-term growth in payments and markets infrastructure. Ondo, JPMorgan, Mastercard & Ripple complete cross-border Treasury redemption
• Neutral Sentiment: JPMorgan disclosed a new preferred stock issuance and also reported a new 3.06% stake in Umicore, both of which are mostly capital-management and portfolio moves rather than direct operating catalysts. JPMorgan Issues New Series PP Preferred Stock
• Neutral Sentiment: JPMorgan remains in the news for research and commentary, including warnings from CEO Jamie Dimon about a possible bond-market crisis and the bank’s view that U.S. grid failures disproportionately hurt lower-income households. These are important macro views, but they do not immediately change JPM’s fundamentals. Jamie Dimon warns of bond crisis
• Negative Sentiment: JPMorgan is facing lawsuit risk after being sued alongside Citigroup over frozen payments tied to a sanctioned Chinese firm, which raises regulatory and legal uncertainty for the bank. JPMorgan, Citi sued for frozen payments to sanctioned China firm
• Negative Sentiment: Asset Management One disclosed it trimmed its JPM position, adding to signs of some institutional profit-taking in the name. Fund update showing decrease in JPM shares

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 3,404 shares of the business's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $306.40, for a total transaction of $1,042,985.60. Following the sale, the general counsel owned 61,949 shares in the company, valued at $18,981,173.60. The trade was a 5.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of the business's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $307.11, for a total value of $15,355,500.00. Following the sale, the chief executive officer owned 111,279 shares in the company, valued at $34,174,893.69. This represents a 31.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 79,849 shares of company stock worth $24,522,956. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Sunday, January 18th. Jefferies Financial Group reissued a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Autonomous Res dropped their price target on JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating for the company in a report on Monday, April 6th. Daiwa Securities Group dropped their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating for the company in a report on Tuesday, April 7th. Finally, Evercore lifted their price objective on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Friday, April 17th. Fifteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $338.12.

JPMorgan Chase & Co. Trading Down 1.4%

Shares of JPM opened at $301.93 on Friday. JPMorgan Chase & Co. has a 52-week low of $252.34 and a 52-week high of $337.25. The business's fifty day moving average is $299.69 and its 200-day moving average is $307.26. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market cap of $809.04 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.49 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The company had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. During the same quarter last year, the company posted $5.07 EPS. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts anticipate that JPMorgan Chase & Co. will post 22.42 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders 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 presently 28.74%.

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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