Webster Bank N. A. Has $26.84 Million Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Webster Bank N. A. reduced its holdings in JPMorgan Chase & Co. by 4.2%, now owning 92,587 shares valued at $26.84 million, making up 2.8% of its investment portfolio.
• Analyst ratings for JPMorgan Chase & Co. are mixed, with one Strong Buy, thirteen Buy, six Hold, and three Sell ratings, indicating a consensus target price of $291.67.
• JPMorgan Chase & Co.'s recent earnings report showed an EPS of $4.96, exceeding expectations, but revenue decreased by 10.5% year-over-year to $44.91 billion.

Webster Bank N. A. trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 92,587 shares of the financial services provider's stock after selling 4,044 shares during the period. JPMorgan Chase & Co. makes up about 2.8% of Webster Bank N. A.'s investment portfolio, making the stock its 6th biggest position. Webster Bank N. A.'s holdings in JPMorgan Chase & Co. were worth $26,842,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth about $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $30,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $33,000. Capital A Wealth Management LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $64,000. Finally, Mpwm Advisory Solutions LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $72,000. 71.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Morgan Stanley lifted their price target on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Finally, Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" 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 assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $291.67.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.8%

Shares of NYSE JPM opened at $309.38 on Tuesday. The stock has a market cap of $850.72 billion, a P/E ratio of 15.87, a P/E/G ratio of 2.04 and a beta of 1.13. The firm has a 50 day moving average price of $294.29 and a 200 day moving average price of $267.75. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $309.95.

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

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.

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