Mission Financial Group LLC Buys Shares of 2,975 JPMorgan Chase & Co. $JPM

Key Points

• Mission Financial Group acquired 2,975 JPMorgan Chase shares worth approximately $974,000 in the second quarter, making JPM about 0.8% of its portfolio. Institutional investors collectively own 71.55% of the company.
• JPMorgan reported quarterly EPS of $6.14, exceeding the $5.59 analyst estimate, while revenue rose 27.7% year over year to $58.02 billion.
• The bank raised its quarterly dividend from $1.50 to $1.65 per share, or $6.60 annually, producing a 1.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $359.96.

Mission Financial Group LLC bought a new position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,975 shares of the financial services provider's stock, valued at approximately $974,000. JPMorgan Chase & Co. comprises about 0.8% of Mission Financial Group LLC's investment portfolio, making the stock its 29th largest position.

Other large investors have also recently bought and sold shares of the company. LM Advisors LLC lifted its stake in JPMorgan Chase & Co. by 237.7% during the second quarter. LM Advisors LLC now owns 13,918 shares of the financial services provider's stock valued at $4,558,000 after purchasing an additional 9,796 shares during the last quarter. Davis Asset Management L.P. lifted its stake in JPMorgan Chase & Co. by 5.4% during the second quarter. Davis Asset Management L.P. now owns 493,896 shares of the financial services provider's stock valued at $161,667,000 after buying an additional 25,110 shares in the last quarter. Kirtland Hills Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 11.3% during the second quarter. Kirtland Hills Capital Management LLC now owns 7,665 shares of the financial services provider's stock valued at $2,509,000 after buying an additional 776 shares in the last quarter. Welch Capital Partners LLC NY acquired a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $210,000. Finally, Compass Financial Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $4,012,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.1%

JPMorgan Chase & Co. stock opened at $348.92 on Friday. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $366.50. The stock has a market cap of $927.49 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. The business has a 50 day moving average price of $353.73 and a two-hundred day moving average price of $323.85. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, beating analysts' consensus estimates of $5.59 by $0.55. The business had revenue of $58.02 billion during the quarter, compared to analyst estimates of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.JPMorgan Chase & Co.'s revenue was up 27.7% on a year-over-year basis. During the same period in the prior year, the company posted $4.96 earnings per share. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 24.3 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be issued a dividend of $1.65 per share. The ex-dividend date of this dividend is Tuesday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. This represents a $6.60 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 25.71%.

Wall Street Analyst Weigh In

JPM has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a "hold" rating in a report on Wednesday, July 15th. Zacks Research lowered shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 14th. Evercore reiterated an "outperform" rating and set a $360.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. Royal Bank Of Canada increased their target price on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $359.96.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 5,467 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the sale, the general counsel directly owned 40,961 shares in the company, valued at approximately $13,547,031.53. This represents a 11.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total value of $882,025.00. Following the completion of the transaction, the insider directly owned 71,047 shares of the company's stock, valued at approximately $25,066,092.07. The trade was a 3.40% decrease in their ownership of the stock. 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 have sold 10,467 shares of company stock worth $3,593,651 over the last ninety days. Company insiders own 0.41% of the company's stock.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: Strong third-quarter revenue outlook: JPMorgan expects investment-banking fees and Markets revenue to increase in the mid-to-high teens year over year. A robust deal pipeline and trading activity suggest continued strength in fee income and support expectations for another strong quarter. JPMorgan Sees Investment Banking and Trading Powering Q3 Growth
• Positive Sentiment: Higher rates may support lending revenue: Following the Federal Reserve’s rate increase, JPMorgan and other major banks raised prime lending rates to 7%. This could improve asset yields and net interest income, although deposit costs and borrower demand remain important offsets. U.S. Banks Raise Prime Interest Rates Following Fed Hike
• Positive Sentiment: Shareholder-return and franchise catalysts: Analysts highlighted JPMorgan’s planned quarterly dividend increase to $1.65, while new mandates—including financing Drax’s solar acquisition and Canada airport concessions—could add to advisory and underwriting revenue. JPMorgan Dividend and Long-Term Outlook
• Neutral Sentiment: Continued strategic visibility: JPMorgan will report third-quarter results on October 13. The bank is also hosting its India conference and pursuing a large, multiyear U.S. housing initiative, developments that reinforce its global reach but are unlikely to materially affect near-term earnings. JPMorgan Third-Quarter Earnings Call Announcement
• Negative Sentiment: Inflation and oil risks remain overhangs: CEO Jamie Dimon said inflation has not clearly been defeated. Separately, JPMorgan’s commodities team abandoned a firm oil-price forecast as the prolonged Iran conflict pushed Brent above $100 per barrel. Persistent inflation could delay rate cuts, raise credit risks and increase market volatility. Jamie Dimon on Inflation

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.

The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across numerous international markets.

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