Kimelman & Baird LLC Has $74.62 Million Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Kimelman & Baird LLC trimmed its JPMorgan Chase stake by 1.6% in the fourth quarter, but still held 231,570 shares worth about $74.6 million. JPMorgan remains the fund’s second-largest holding and makes up 5.7% of its portfolio.
• JPMorgan reported better-than-expected quarterly results, with EPS of $5.94 versus estimates of $5.50 and revenue of $50.54 billion versus expectations of $48.30 billion. The bank also increased its quarterly dividend to $1.50 per share, implying a 2.0% yield.
• Recent headlines around JPMorgan are mixed: CEO Jamie Dimon said the bank could spend up to $20 billion on acquisitions, but he also warned that earnings may not stay at current levels and that costs could rise. Analysts remain split overall, with the stock carrying a Moderate Buy rating and an average price target of $339.08.

Kimelman & Baird LLC decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,570 shares of the financial services provider's stock after selling 3,836 shares during the quarter. JPMorgan Chase & Co. comprises 5.7% of Kimelman & Baird LLC's holdings, making the stock its 2nd largest holding. Kimelman & Baird LLC's holdings in JPMorgan Chase & Co. were worth $74,617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after buying an additional 4,841 shares in the last quarter. Acorns Advisers LLC grew its holdings in JPMorgan Chase & Co. by 6.9% during the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock worth $379,000 after buying an additional 100 shares in the last quarter. Ignite Planners LLC grew its holdings in JPMorgan Chase & Co. by 0.7% during the second quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider's stock worth $3,185,000 after buying an additional 78 shares in the last quarter. Jump Financial LLC bought a new stake in JPMorgan Chase & Co. during the second quarter worth $1,475,000. Finally, Betterment LLC grew its holdings in JPMorgan Chase & Co. by 27.5% during the second quarter. Betterment LLC now owns 1,970 shares of the financial services provider's stock worth $571,000 after buying an additional 425 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Negative Sentiment: JPMorgan may spend heavily on acquisitions, which could reduce capital flexibility and pressure returns if deals are expensive or hard to integrate. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: 'We are on the lookout'
• Negative Sentiment: Dimon said earnings may not stay at current levels and that costs are likely to rise, which raises concerns about margin pressure. JPMorgan Chase Stock Is Falling: What's Happening Today?
• Neutral Sentiment: The bank also announced it will redeem $2.0 billion of Series KK preferred stock, a routine capital-management move that is not likely to change the investment thesis on its own. JPMorgan Chase to Redeem Series KK Preferred Stock
• Positive Sentiment: Dimon’s willingness to consider large acquisitions also reflects confidence in JPMorgan’s excess capital and long-term growth options, which could support the stock over time if management finds attractive targets. Jamie Dimon says JPMorgan could spend up to $20bn on a new acquisition

Analyst Ratings Changes

JPM has been the subject of several recent research reports. Barclays reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, February 24th. Argus upped their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. HSBC upped their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a report on Monday, May 4th. Finally, UBS Group cut their price objective on JPMorgan Chase & Co. from $380.00 to $375.00 in a research report on Wednesday, May 6th. Fifteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and an average price target of $339.08.

JPMorgan Chase & Co. Stock Down 2.5%

Shares of NYSE JPM opened at $299.04 on Thursday. JPMorgan Chase & Co. has a one year low of $260.31 and a one year high of $337.25. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The business's fifty day moving average price is $302.05 and its 200-day moving average price is $306.96. The stock has a market capitalization of $801.27 billion, a PE ratio of 14.32, a P/E/G ratio of 1.50 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 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 analysts' expectations of $48.30 billion. During the same quarter in the prior year, the firm earned $5.07 EPS. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 22.4 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.74%.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 433 shares of the company's stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $295.06, for a total transaction of $127,760.98. Following the transaction, the insider owned 64,920 shares of the company's stock, valued at $19,155,295.20. This represents a 0.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Piepszak sold 9,136 shares of the company's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total value of $2,800,732.16. Following the transaction, the chief operating officer directly owned 90,001 shares in the company, valued at $27,590,706.56. This represents a 9.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,589 shares of company stock worth $8,747,496 over the last quarter. 0.41% of the stock is currently owned by corporate insiders.

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.

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