Legacy Private Trust Co. Reduces Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Legacy Private Trust Co. reduced its stake in JPMorgan Chase & Co. by 3.5%, now holding 64,830 shares valued at approximately $18.8 million.
• JPMorgan Chase reported $4.96 earnings per share for the quarter, exceeding analysts' expectations of $4.48, but its revenue fell 10.5% year over year to $44.91 billion.
• Wall Street analysts have varied ratings for JPMorgan, with a consensus rating of "Moderate Buy" and an average price target of $291.67.

Legacy Private Trust Co. lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 64,830 shares of the financial services provider's stock after selling 2,352 shares during the quarter. JPMorgan Chase & Co. accounts for 1.2% of Legacy Private Trust Co.'s holdings, making the stock its 18th biggest holding. Legacy Private Trust Co.'s holdings in JPMorgan Chase & Co. were worth $18,795,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth about $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $30,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $33,000. Capital A Wealth Management LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $64,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $72,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $306.88 on Monday. The firm has a market cap of $843.84 billion, a P/E ratio of 15.75, a P/E/G ratio of 2.04 and a beta of 1.13. 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. has a 12 month low of $202.16 and a 12 month high of $307.55. The stock's fifty day moving average price is $293.94 and its 200-day moving average price is $267.44.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period in the prior year, the firm earned $6.12 earnings per share. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research note on Friday, June 27th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Evercore ISI set a $298.00 price target on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, July 7th. Finally, TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $291.67.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.47% of the company's stock.

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.

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