Quintet Private Bank Europe S.A. Increases Position in JPMorgan Chase & Co. $JPM

Key Points

• Quintet Private Bank Europe increased its JPMorgan Chase stake by 46.2% in the third quarter, adding 119,718 shares to own 378,587 shares valued at approximately $125.2 million. Institutional investors collectively hold 71.55% of JPMorgan’s stock.
• JPMorgan reported quarterly earnings of $6.14 per share and revenue of $58.02 billion, exceeding analyst expectations, while revenue increased 27.7% year over year.
• The bank raised its quarterly dividend from $1.50 to $1.65 per share; analysts maintain a “Moderate Buy” consensus rating with an average price target of $362.88.

Quintet Private Bank Europe S.A. boosted its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 46.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 378,587 shares of the financial services provider's stock after purchasing an additional 119,718 shares during the quarter. JPMorgan Chase & Co. comprises approximately 5.8% of Quintet Private Bank Europe S.A.'s holdings, making the stock its 4th largest holding. Quintet Private Bank Europe S.A.'s holdings in JPMorgan Chase & Co. were worth $125,248,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vann Equity Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 22.8% in the 3rd quarter. Vann Equity Management LLC now owns 6,087 shares of the financial services provider's stock worth $2,014,000 after buying an additional 1,131 shares during the last quarter. Buska Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $216,000. Puff Wealth Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.1% in the 3rd quarter. Puff Wealth Management LLC now owns 3,691 shares of the financial services provider's stock valued at $1,221,000 after purchasing an additional 41 shares during the last quarter. Venture Visionary Partners LLC lifted its position in JPMorgan Chase & Co. by 1.1% in the third quarter. Venture Visionary Partners LLC now owns 259,653 shares of the financial services provider's stock worth $85,901,000 after buying an additional 2,922 shares during the last quarter. Finally, Steph & Co. lifted its position in JPMorgan Chase & Co. by 1.7% in the third quarter. Steph & Co. now owns 4,291 shares of the financial services provider's stock worth $1,420,000 after buying an additional 71 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.1%

JPMorgan Chase & Co. stock traded down $0.46 during trading hours on Thursday, hitting $329.12. The company had a trading volume of 3,271,750 shares, compared to its average volume of 9,204,717. The firm has a market cap of $874.86 billion, a P/E ratio of 14.11, a P/E/G ratio of 1.36 and a beta of 1.02. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $366.50. The company has a 50-day moving average price of $351.12 and a two-hundred day moving average price of $328.32.

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, topping analysts' consensus estimates of $5.59 by $0.55. The business had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The company's quarterly revenue was up 27.7% compared to the same quarter last year. During the same period last year, the company posted $4.96 earnings per share. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 24.16 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Tuesday, October 6th will be paid a dividend of $1.65 per share. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. This represents a $6.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, October 6th. JPMorgan Chase & Co.'s payout ratio is 28.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on JPM shares. Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 14th. Truist Financial boosted their target price on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a "hold" rating in a research report on Wednesday, July 15th. Evercore reaffirmed an "outperform" rating and set a $360.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Finally, Jefferies Financial Group restated a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Friday, September 25th. Fifteen equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $362.88.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: Analyst target implies upside: TD Cowen initiated coverage with a “hold” rating and a $370 price target, indicating potential appreciation from recent levels despite the cautious recommendation. TD Cowen initiates JPMorgan coverage
• Positive Sentiment: Dividend growth supports the investment case: JPMorgan recently increased its dividend by 10%, a move viewed as evidence of strong earnings and capital-generation capacity. JPMorgan dividend increase
• Positive Sentiment: Business expansion continues: Chase is adding payroll capabilities to its business-banking platform, potentially deepening relationships with commercial clients and creating additional fee opportunities. Chase adds payroll services
• Neutral Sentiment: Q3 earnings are the next major catalyst: Analysts are evaluating net interest income, loan growth, credit provisions, investment-banking activity and expense trends ahead of the company’s expected October 13 report. Expectations call for year-over-year earnings growth, but elevated investor expectations could increase volatility. JPMorgan Q3 earnings preview
• Negative Sentiment: Rising long-term Treasury yields are a headwind: JPMorgan strategists say the 30-year yield approaching 6% reflects concerns about government debt and could hurt small- and mid-cap borrowers, market valuations and broader risk appetite. JPMorgan flags rising Treasury yields
• Negative Sentiment: Dimon’s warnings reinforce macro concerns: The CEO has cautioned that sticky inflation, higher rates, a bond-market selloff and competition for capital could squeeze corporate borrowers. Analysts also note that sharply rising yields can pressure banks through bond-market losses, funding costs and weaker loan demand. Banks under pressure from spiking yields
• Negative Sentiment: Housing weakness poses an indirect risk: JPMorgan says U.S. housing affordability is near financial-crisis lows and that the market is effectively frozen, signaling potential pressure on mortgage activity, consumer finances and credit quality. JPMorgan comments on housing affordability

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction dated 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 sale, the insider directly owned 71,047 shares in the company, valued at $25,066,092.07. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.41% of the company's stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.

The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.

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

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