CNB Bank Lowers Stake in JPMorgan Chase & Co. (NYSE:JPM)

CNB Bank trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 16,462 shares of the financial services provider's stock after selling 972 shares during the period. JPMorgan Chase & Co. accounts for approximately 2.0% of CNB Bank's investment portfolio, making the stock its 5th biggest position. CNB Bank's holdings in JPMorgan Chase & Co. were worth $4,038,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of JPM. Fourth Dimension Wealth LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $471,000. Disciplined Investments LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $217,000. LGT Group Foundation raised its position in JPMorgan Chase & Co. by 2.8% during the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock worth $126,040,000 after purchasing an additional 14,300 shares during the last quarter. Kinsale Capital Group Inc. raised its position in JPMorgan Chase & Co. by 11.1% during the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock worth $10,483,000 after purchasing an additional 4,375 shares during the last quarter. Finally, Jag Capital Management LLC raised its position in JPMorgan Chase & Co. by 10.5% during the 4th quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider's stock worth $353,000 after purchasing an additional 140 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Up 1.4%

JPM stock traded up $4.13 during mid-day trading on Friday, reaching $296.13. 6,541,646 shares of the company traded hands, compared to its average volume of 9,533,583. The stock has a market cap of $822.96 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 2.75 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $296.40. The firm's 50 day moving average price is $266.97 and its 200 day moving average price is $254.56.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The company's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.44 EPS. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.89%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 27.49%.

Wall Street Analyst Weigh In

JPM has been the subject of several analyst reports. Truist Financial raised their target price on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a "hold" rating in a research report on Monday, June 2nd. UBS Group lifted their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Royal Bank Of Canada set a $305.00 price objective on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, June 30th. Evercore ISI lifted their price objective on JPMorgan Chase & Co. from $280.00 to $298.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research report on Friday, June 27th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $277.74.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel owned 36,520 shares of the company's stock, valued at $9,703,729.20. This trade represents a 15.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the sale, the chief financial officer directly owned 18,017 shares in the company, valued at $4,518,123.09. This trade represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock worth $18,060,015 in the last quarter. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Company 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.