Texas Capital Bank Wealth Management Services Inc Sells 8,562 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Texas Capital Bank Wealth Management Services Inc has reduced its stake in JPMorgan Chase & Co. by 16.7%, now holding 42,726 shares valued at approximately $10.48 million.
• JPMorgan Chase & Co. reported a quarterly EPS of $4.96, exceeding estimates, while revenue for the quarter was $44.91 billion, a 10.5% decrease compared to the previous year's same quarter.
• The stock’s current price is around $290.37, with a market capitalization of $798.44 billion and an average analyst rating of "Moderate Buy."

Texas Capital Bank Wealth Management Services Inc trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 16.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,726 shares of the financial services provider's stock after selling 8,562 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.1% of Texas Capital Bank Wealth Management Services Inc's holdings, making the stock its 17th largest position. Texas Capital Bank Wealth Management Services Inc's holdings in JPMorgan Chase & Co. were worth $10,481,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after purchasing an additional 4,841 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after buying an additional 1,229 shares in the last quarter. Highview Capital Management LLC DE boosted its stake in JPMorgan Chase & Co. by 16.1% in the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock worth $3,266,000 after purchasing an additional 1,893 shares during the period. KKM Financial LLC grew its holdings in shares of JPMorgan Chase & Co. by 3.9% during the fourth quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock valued at $4,040,000 after buying an additional 640 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in JPMorgan Chase & Co. by 7.9% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 26,134 shares of the financial services provider's stock worth $6,265,000 after acquiring an additional 1,923 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Down 0.4%

NYSE JPM traded down $1.1820 on Thursday, reaching $291.0580. The company had a trading volume of 6,622,726 shares, compared to its average volume of 7,551,326. JPMorgan Chase & Co. has a 52 week low of $200.61 and a 52 week high of $301.29. The stock's 50 day moving average is $288.29 and its 200-day moving average is $264.27. The stock has a market cap of $800.34 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.94 and a beta of 1.11. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.12 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction 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 approximately $16,392,563.85. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

JPM has been the subject of a number of recent research reports. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada set a $305.00 price objective on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Finally, Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $288.68.

About JPMorgan Chase & Co.

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.