Simmons Bank Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Simmons Bank lessened its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,205 shares of the financial services provider's stock after selling 1,038 shares during the period. JPMorgan Chase & Co. comprises approximately 1.2% of Simmons Bank's investment portfolio, making the stock its 16th largest holding. Simmons Bank's holdings in JPMorgan Chase & Co. were worth $15,259,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $29,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $33,000. Sellwood Investment Partners LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $34,000. Investment Counsel Co. of Nevada purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $37,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JPM. UBS Group increased their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Truist Financial increased their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday. Wells Fargo & Company reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Monday, July 7th. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research report on Friday, June 27th. Finally, TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $284.42.

JPMorgan Chase & Co. Trading Down 0.5%

Shares of JPM traded down $1.41 during midday trading on Friday, reaching $286.78. The company had a trading volume of 7,378,197 shares, compared to its average volume of 9,554,021. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $296.40. The stock has a market cap of $796.99 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10. The firm has a 50 day simple moving average of $270.98 and a 200-day simple moving average of $256.29. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same period last year, the company earned $4.44 EPS. The company's revenue for the quarter was up 8.0% on a year-over-year basis. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares of the company's stock, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the sale, the chief financial officer directly owned 18,017 shares of the company's stock, valued at $4,518,123.09. This trade represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 over the last 90 days. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.