Washington Trust Bank Sells 9,518 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Washington Trust Bank reduced its JPMorgan stake by 11.1%, selling 9,518 shares during the second quarter and retaining 76,431 shares valued at approximately $25.0 million.
• JPMorgan reported quarterly EPS of $6.14 versus the $5.59 consensus estimate, while revenue rose 27.7% year over year to $58.02 billion. The company also increased its quarterly dividend to $1.65 per share, representing a 2.0% yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $360.58, although Jefferies lowered its target to $365 and kept a “Hold” rating.

Washington Trust Bank trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 11.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,431 shares of the financial services provider's stock after selling 9,518 shares during the quarter. JPMorgan Chase & Co. accounts for 1.7% of Washington Trust Bank's holdings, making the stock its 12th largest holding. Washington Trust Bank's holdings in JPMorgan Chase & Co. were worth $25,018,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Concorde Asset Management LLC increased its stake in shares of JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Concorde Asset Management LLC now owns 2,660 shares of the financial services provider's stock valued at $871,000 after purchasing an additional 29 shares during the last quarter. Arkansas Financial Group Inc. boosted its stake in JPMorgan Chase & Co. by 1.1% in the second quarter. Arkansas Financial Group Inc. now owns 2,667 shares of the financial services provider's stock valued at $873,000 after buying an additional 30 shares in the last quarter. Flynn Zito Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 1.1% in the second quarter. Flynn Zito Capital Management LLC now owns 2,830 shares of the financial services provider's stock valued at $926,000 after buying an additional 30 shares in the last quarter. Wedgewood Investors Inc. PA grew its position in JPMorgan Chase & Co. by 1.5% in the second quarter. Wedgewood Investors Inc. PA now owns 2,059 shares of the financial services provider's stock valued at $674,000 after acquiring an additional 30 shares during the last quarter. Finally, WealthBridge Capital Management LLC grew its position in JPMorgan Chase & Co. by 0.3% in the second quarter. WealthBridge Capital Management LLC now owns 10,503 shares of the financial services provider's stock valued at $3,438,000 after acquiring an additional 31 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total value of $882,025.00. Following the transaction, the insider owned 71,047 shares in the company, valued at approximately $25,066,092.07. The trade was a 3.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.41% of the company's stock.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: Cross-border payments expansion: JPMorgan Payments is partnering with Thunes to provide faster payouts to bank accounts and mobile wallets across more than 100 corridors. The initiative could expand transaction volumes and strengthen JPM’s global payments franchise. JPMorgan Payments brings faster cross-border payments to more markets
• Positive Sentiment: Asset-management growth: JPMorgan Asset Management announced a $200 million sustainable-forestry investment in Paraguay and recently secured a reported $20 billion multi-market investment partnership with Qatar Investment Authority. These developments could support fee income and reinforce JPM’s global asset-gathering platform. Paraguay sustainable forestry investment
• Positive Sentiment: Potential card expansion: JPMorgan is exploring a private-credit “second-look” model that could allow outside lenders to fund some applicants the bank declines. The approach may increase card reach and fee revenue while transferring some credit risk, though execution and regulatory considerations remain. Private credit and JPMorgan’s card business
• Neutral Sentiment: Analyst view: JPMorgan strategist Grace Peters remains constructive on equities despite higher bond yields, but the comments are broad market guidance rather than a direct change to JPM’s earnings outlook. JPMorgan’s Peters favors stocks
• Negative Sentiment: Jefferies trims valuation target: Jefferies lowered its JPMorgan price target to $365 from $370 while retaining a “Hold” rating. The reduction signals limited perceived upside after the stock’s strong run and is the clearest near-term negative catalyst. Jefferies adjusts JPMorgan price target

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Morgan Stanley reissued a "positive" rating and issued a $370.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Bank of America increased their price objective on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Robert W. Baird increased their price target on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group dropped their target price on JPMorgan Chase & Co. from $370.00 to $365.00 and set a "hold" rating for the company in a research report on Thursday. Sixteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and an average target price of $360.58.

JPMorgan Chase & Co. Stock Up 0.2%

Shares of JPM opened at $338.05 on Friday. The stock's 50-day moving average price is $353.73 and its two-hundred day moving average price is $325.34. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $366.50. The company has a market capitalization of $898.60 billion, a PE ratio of 14.48, a PEG ratio of 1.40 and a beta of 0.98. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.59 by $0.55. The company had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The firm's revenue was up 27.7% compared to the same quarter last year. During the same period last year, the company earned $4.96 earnings per share. On average, analysts anticipate that JPMorgan Chase & Co. will post 24.3 EPS 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. Shareholders of record on Tuesday, October 6th will be issued a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 25.71%.

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, 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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