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JPMorgan Chase & Co. $JPM Shares Sold by M&T Bank Corp

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Key Points

  • M&T Bank Corp cut its stake in JPMorgan Chase by 92.5% in Q4, selling 1,646,402 shares and leaving 134,379 shares valued at $43.3 million.
  • COO Jennifer Piepszak and CFO Jeremy Barnum sold 9,136 and 5,611 shares respectively on April 15 under pre‑arranged Rule 10b5‑1 plans; insiders sold 71,908 shares (~$22.07M) in the last quarter and now own 0.41% of the stock.
  • JPMorgan beat Q1 estimates with EPS $5.94 (vs. $5.50) and $50.54B revenue, pays a $1.50 quarterly dividend (annualized yield ~1.9%), and has a consensus analyst target of $336.16 ("Moderate Buy").
  • Five stocks to consider instead of JPMorgan Chase & Co..

M&T Bank Corp decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 92.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,379 shares of the financial services provider's stock after selling 1,646,402 shares during the period. M&T Bank Corp's holdings in JPMorgan Chase & Co. were worth $43,300,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. acquired a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $32,000. Turning Point Benefit Group Inc. acquired a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $35,000. Miller Global Investments LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $52,000. Collier Financial acquired a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $60,000. Finally, Decker Retirement Planning Inc. increased its position in JPMorgan Chase & Co. by 56.3% during the 3rd quarter. Decker Retirement Planning Inc. now owns 236 shares of the financial services provider's stock worth $74,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 9,136 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total value of $2,800,732.16. Following the sale, the chief operating officer owned 90,001 shares of the company's stock, valued at approximately $27,590,706.56. This represents a 9.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 5,611 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total value of $1,720,052.05. Following the completion of the sale, the chief financial officer directly owned 35,460 shares in the company, valued at approximately $10,870,263. The trade was a 13.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 71,908 shares of company stock worth $22,065,882 in the last quarter. Insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Freedom Capital upgraded JPMorgan Chase & Co. to a "hold" rating in a research report on Wednesday, January 14th. Piper Sandler upped their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. TD Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, January 7th. The Goldman Sachs Group set a $361.00 price target on JPMorgan Chase & Co. in a report on Tuesday, April 14th. Finally, DZ Bank restated a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Fifteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $336.16.

View Our Latest Report on JPMorgan Chase & Co.

More JPMorgan Chase & Co. News

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

JPMorgan Chase & Co. Price Performance

JPM stock opened at $312.89 on Friday. JPMorgan Chase & Co. has a 1 year low of $248.83 and a 1 year high of $337.25. 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 stock's 50 day moving average price is $299.19 and its 200 day moving average price is $307.03. The firm has a market cap of $839.25 billion, a P/E ratio of 14.99, a PEG ratio of 1.53 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. During the same quarter in the prior year, the company earned $5.07 EPS. JPMorgan Chase & Co.'s revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 22.42 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced 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 of this dividend was Monday, April 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.74%.

JPMorgan Chase & Co. Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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.

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