Wesbanco Bank Inc. Acquires 11,171 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Wesbanco Bank Inc. increased its stake in JPMorgan Chase & Co. by 3.7% during the 2nd quarter, now holding 313,876 shares worth approximately $90.99 million.
• JPMorgan Chase reported a 12-month high of $307.55 and has seen a decline in revenue by 10.5% year-over-year despite beating EPS expectations significantly.
• Currently, 71.55% of JPMorgan's stock is owned by institutional investors and various hedge funds have adjusted their positions in the company recently.

Wesbanco Bank Inc. grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,876 shares of the financial services provider's stock after purchasing an additional 11,171 shares during the period. JPMorgan Chase & Co. makes up approximately 2.7% of Wesbanco Bank Inc.'s holdings, making the stock its 5th largest holding. Wesbanco Bank Inc.'s holdings in JPMorgan Chase & Co. were worth $90,996,000 at the end of the most recent quarter.

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

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $306.88 on Monday. The company has a market cap of $843.84 billion, a P/E ratio of 15.75, a PEG ratio of 2.04 and a beta of 1.13. The stock has a fifty day moving average price of $293.94 and a 200 day moving average price of $267.44. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $307.55.

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 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm's revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $6.12 EPS. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Wall Street Analyst Weigh In

JPM has been the topic of several recent research reports. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. Zacks Research lowered JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Truist Financial boosted their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Bank of America boosted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. 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 investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $291.67.

Insider Transactions at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Company 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.

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