MidFirst Bank Acquires Shares of 65,722 JPMorgan Chase & Co. $JPM

Key Points

• MidFirst Bank disclosed a new fourth-quarter stake in JPMorgan Chase, buying 65,722 shares valued at about $20.7 million. The position represents roughly 1.6% of MidFirst Bank’s portfolio and is its 11th-largest holding.
• JPMorgan’s latest quarter showed better-than-expected results, with earnings of $5.94 per share versus the $5.50 estimate and revenue of $50.54 billion, up 10% from a year earlier. The company also posted a 20.66% net margin and 17.54% return on equity.
• The bank continues to reward shareholders with a quarterly dividend of $1.50 per share, or $6.00 annually, implying a 1.8% yield. At the same time, analysts remain mixed overall, with a consensus rating of Hold despite several buy ratings.

MidFirst Bank bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 65,722 shares of the financial services provider's stock, valued at approximately $20,728,000. JPMorgan Chase & Co. accounts for approximately 1.6% of MidFirst Bank's portfolio, making the stock its 11th biggest holding.

Other large investors also recently modified their holdings of the company. Timmons Wealth Management LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $32,000. Turning Point Benefit Group Inc. bought a new position in JPMorgan Chase & Co. in the 3rd quarter valued at about $35,000. Merrithew & Thorsten Inc bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $40,000. Finally, WHI TRUST Co LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $45,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan was highlighted as a long-term favorite by multiple market commentators, with articles pointing to Jamie Dimon’s leadership, a strong balance sheet, and the bank’s durable profit record. Jamie Dimon’s Savvy Leadership, Bold Initiatives Keep JPMorgan Chase on Top
• Positive Sentiment: The bank’s planned expansion of the Chase digital bank into at least five European countries over the next five years suggests a new growth avenue that could widen its customer base and support future revenue. JPMorgan Chase & Co. (JPM) – Among the Top 10 Dividend Stocks to Buy According to Reddit
• Positive Sentiment: JPMorgan was also linked to a new Morningstar collaboration with Apollo and Franklin Templeton on model portfolios, reinforcing JPMorgan’s role in wealth-management product innovation. Morningstar (MORN) Teams Up With Apollo, Franklin Templeton, And JPMorgan On New Models
• Neutral Sentiment: Several articles simply reaffirmed JPMorgan as a top dividend or long-term holding, which is supportive sentiment but does not by itself change the near-term earnings outlook. Why JPMorgan Chase & Co. (JPM) is a Top Stock for the Long-Term
• Negative Sentiment: Offsetting the positives, the DOJ is probing transactions tied to a business network linked to Iran’s supreme leader, and JPMorgan was named in the coverage. That adds regulatory and reputational risk, which can pressure the shares if the investigation deepens. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader's business network

JPMorgan Chase & Co. Trading Up 0.0%

Shares of JPMorgan Chase & Co. stock opened at $325.28 on Friday. The firm has a market capitalization of $871.58 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.51 and a beta of 1.00. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The firm's 50 day moving average is $309.17 and its 200 day moving average is $307.69. JPMorgan Chase & Co. has a 1 year low of $272.11 and a 1 year high of $338.09.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter in the prior year, the firm earned $5.07 EPS. The firm's revenue was up 10.0% compared to the same quarter last year. Equities research analysts forecast that JPMorgan Chase & Co. will post 22.44 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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 paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.74%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 433 shares of the stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $295.06, for a total value of $127,760.98. Following the completion of the transaction, the insider directly owned 64,920 shares in the company, valued at approximately $19,155,295.20. This trade represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares in the company, valued at $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 28,589 shares of company stock worth $8,747,496. Insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on JPM. Royal Bank Of Canada reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Autonomous Res lowered their price objective on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating for the company in a research report on Monday, April 6th. Robert W. Baird set a $295.00 target price on JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Evercore raised their target price on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Friday, April 17th. Finally, HSBC lifted their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a "hold" rating in a research note on Monday, May 4th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Hold" and an average target price of $339.08.

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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