OVERSEA CHINESE BANKING Corp Ltd Buys 9,149 Shares of JPMorgan Chase & Co. $JPM

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its JPMorgan stake by 19.6% in the second quarter, purchasing 9,149 additional shares to bring its holdings to 55,774 shares valued at $18.26 million. Institutional investors collectively own 71.55% of JPMorgan’s stock.
• JPMorgan reported quarterly earnings of $6.14 per share, exceeding the $5.59 consensus estimate, while revenue reached $58.02 billion and rose 27.7% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $359.96.
• The bank raised its quarterly dividend to $1.65 per share, equivalent to a $6.60 annualized payout and a 1.9% yield. Meanwhile, insiders sold 10,467 shares worth approximately $3.59 million over the past 90 days.

OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 19.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,774 shares of the financial services provider's stock after purchasing an additional 9,149 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in JPMorgan Chase & Co. were worth $18,261,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. E Fund Management Co. Ltd. boosted its stake in shares of JPMorgan Chase & Co. by 7.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 29,956 shares of the financial services provider's stock worth $9,805,000 after acquiring an additional 1,973 shares during the period. Pasadena Private Wealth LLC boosted its position in JPMorgan Chase & Co. by 5.3% during the second quarter. Pasadena Private Wealth LLC now owns 5,120 shares of the financial services provider's stock worth $1,676,000 after purchasing an additional 257 shares during the period. MSH Capital Advisors LLC boosted its position in JPMorgan Chase & Co. by 17.2% during the second quarter. MSH Capital Advisors LLC now owns 33,369 shares of the financial services provider's stock worth $10,923,000 after purchasing an additional 4,893 shares during the period. Quartz Partners LLC increased its holdings in shares of JPMorgan Chase & Co. by 7.3% in the second quarter. Quartz Partners LLC now owns 1,268 shares of the financial services provider's stock valued at $415,000 after purchasing an additional 86 shares during the last quarter. Finally, Toews Corp ADV bought a new position in shares of JPMorgan Chase & Co. in the second quarter valued at about $589,000. Institutional investors own 71.55% of the company's stock.

Insider Activity

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

JPMorgan Chase & Co. Price Performance

JPM stock opened at $354.10 on Wednesday. The company's 50-day moving average price is $352.81 and its two-hundred day moving average price is $323.02. The firm has a market cap of $941.27 billion, a P/E ratio of 15.17, a P/E/G ratio of 1.44 and a beta of 0.98. 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. has a 12 month low of $279.10 and a 12 month high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.55. The firm had revenue of $58.02 billion during the quarter, compared to analysts' expectations of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The company's quarterly revenue was up 27.7% on a year-over-year basis. During the same period in the prior year, the company earned $4.96 earnings per share. On average, analysts anticipate that JPMorgan Chase & Co. will post 24.3 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Tuesday, October 6th will be paid a $1.65 dividend. This represents a $6.60 annualized dividend and a yield of 1.9%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, October 6th. JPMorgan Chase & Co.'s payout ratio is 25.71%.

Analyst Upgrades and Downgrades

JPM has been the subject of several research analyst reports. Barclays lifted their target price on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Royal Bank Of Canada raised their price objective on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Jefferies Financial Group set a $350.00 target price on JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Robert W. Baird lifted their price target on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $359.96.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan said third-quarter investment-banking fees and trading revenue are expected to show strong growth. Co-President Doug Petno also indicated that overall revenue is tracking ahead of expectations, helping reverse earlier weakness in the shares. JPMorgan expects investment banking, trading to shine in third quarter
• Positive Sentiment: The revenue outlook suggests continued momentum in JPMorgan’s capital-markets operations, including stronger deal activity and market-trading fees. The update provides a near-term catalyst following the bank’s recent earnings beat and robust year-over-year revenue growth. JPMorgan Chase stock rises after upbeat revenue outlook
• Neutral Sentiment: JPMorgan declared its regular quarterly dividend on common stock and dividends on Series CC preferred stock. The announcements reinforce shareholder distributions but appear routine rather than a new change in capital-return policy. JPMorganChase Declares Common Stock Dividend JPMorganChase Declares Preferred Stock Dividends
• Negative Sentiment: Investors continue to monitor signs that earnings growth may be slowing despite the benefit of higher interest rates. Jamie Dimon’s ongoing warnings about economic and structural pressures, along with elevated oil prices and potential effects on borrowers, remain longer-term risks for the bank. JPM Benefits from Higher Rates, but Earnings Growth Is Slowing

JPMorgan Chase & Co. Company 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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