Pittenger & Anderson Inc. Boosts Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Pittenger & Anderson Inc. increased its stake in JPMorgan Chase by 4.8% in the first quarter, bringing its holdings to 73,911 shares valued at about $21.7 million.
• JPMorgan posted strong quarterly results, with EPS of $5.94 and revenue of $50.54 billion, both beating analyst expectations. Revenue rose 10% year over year.
• The bank also maintained a shareholder-friendly payout, announcing a quarterly dividend of $1.50 per share for a 1.7% yield, while analysts remained broadly positive with an average rating of Moderate Buy.

Pittenger & Anderson Inc. lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,911 shares of the financial services provider's stock after purchasing an additional 3,378 shares during the period. Pittenger & Anderson Inc.'s holdings in JPMorgan Chase & Co. were worth $21,742,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in JPM. Gables Capital Management Inc. grew its holdings in JPMorgan Chase & Co. by 5.7% during the 1st quarter. Gables Capital Management Inc. now owns 21,694 shares of the financial services provider's stock valued at $6,382,000 after purchasing an additional 1,173 shares in the last quarter. Carnegie Investment Counsel lifted its holdings in JPMorgan Chase & Co. by 0.4% in the 1st quarter. Carnegie Investment Counsel now owns 420,798 shares of the financial services provider's stock worth $121,028,000 after buying an additional 1,651 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 0.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 18,603 shares of the financial services provider's stock worth $5,472,000 after buying an additional 175 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its position in JPMorgan Chase & Co. by 0.4% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 748,885 shares of the financial services provider's stock valued at $220,292,000 after buying an additional 3,168 shares during the last quarter. Finally, Capital Squared Financial LLC boosted its position in JPMorgan Chase & Co. by 13.7% in the 1st quarter. Capital Squared Financial LLC now owns 4,100 shares of the financial services provider's stock valued at $1,206,000 after buying an additional 493 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $343.02 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $351.24. The firm's 50-day simple moving average is $318.31 and its 200-day simple moving average is $310.09. The firm has a market cap of $919.14 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.57 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping analysts' consensus estimates of $5.50 by $0.44. The business had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The company's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm earned $5.07 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 22.95 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 25.71%.

Insider Transactions at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 3,022 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer directly owned 32,438 shares in the company, valued at approximately $10,036,641.58. The trade was a 8.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the company's stock in a transaction that occurred on 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 approximately $26,326,072.44. This represents a 5.47% 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. In the last quarter, insiders sold 18,876 shares of company stock worth $5,907,051. 0.41% of the stock is currently owned by corporate insiders.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan reported blowout Q2 results, including record net income of $21.2 billion, with CEO Jamie Dimon saying the economy remains “close to as good as it gets.” The bank also posted strong trading and investment banking performance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income -- Up 41% -- and CEO Jamie Dimon Said the Economy Is "Close to as Good as It Gets."
• Positive Sentiment: Analysts turned more bullish after earnings, with Bank of America, Keefe, Bruyette & Woods, and Truist all lifting price targets, reflecting confidence in JPMorgan’s profitability, capital flexibility, and guidance for stronger net interest income. Analyst price-target updates
• Positive Sentiment: JPMorgan raised its full-year net interest income outlook to $105.5 billion, signaling that core lending revenue remains resilient even after the Federal Reserve’s policy changes. JPMorgan Chase Just Posted 86% Growth in Equities Trading Revenue and Raised Its Full-Year Net Interest Income Guidance to $105.5 Billion
• Neutral Sentiment: JPMorgan continued to show market leadership and a path toward a possible $1 trillion valuation, helped by its scale in lending, trading, and dealmaking, but that milestone may also be encouraging some short-term profit taking after the stock’s sharp run. Dimon-led JPMorgan poised to become world's first $1 trillion bank
• Neutral Sentiment: The bank also announced a $24 million investment in Philadelphia shipbuilding and defense manufacturing, which supports its long-term industrial finance strategy but is unlikely to move the stock materially by itself. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Some commentary focused on JPMorgan’s higher expense outlook following earnings, suggesting costs could rise faster than investors expected and tempering enthusiasm after the strong report. Its Dividend Looks Secure, But Don’t Chase JPM Stock After Q2 Earnings. Here’s Why.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. The Goldman Sachs Group reaffirmed a "buy" rating and set a $418.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday. Piper Sandler raised their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Dbs Bank upgraded JPMorgan Chase & Co. to a "hold" rating in a report on Tuesday, May 12th. UBS Group upped their target price on JPMorgan Chase & Co. from $375.00 to $384.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Finally, Evercore reiterated an "outperform" rating and set a $360.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. Fifteen research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $354.92.

About JPMorgan Chase & Co.

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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