Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in JPMorgan Chase & Co. by 2.1%, now holding approximately 1,707,594 shares valued at $418,873,000, making it the bank's 14th largest holding.
• JPMorgan Chase recently reported quarterly earnings of $4.96 per share, surpassing expectations, with revenue of $44.91 billion, although this represented a year-over-year decline of 10.5%.
• Several brokerages have increased their price targets for JPMorgan Chase, with an overall consensus rating of "Moderate Buy" and a price target averaging $288.68.

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,707,594 shares of the financial services provider's stock after selling 35,874 shares during the period. JPMorgan Chase & Co. makes up approximately 1.2% of Zurcher Kantonalbank Zurich Cantonalbank's holdings, making the stock its 14th largest holding. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of JPMorgan Chase & Co. worth $418,873,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of JPM. Redwood Park Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth about $29,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth about $33,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth about $37,000. Prudent Man Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $43,000. Finally, Measured Risk Portfolios Inc. purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on JPM. Keefe, Bruyette & Woods raised their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. TD Cowen began coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 price target on the stock. Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. UBS Group raised their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Finally, Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the sale, the director directly owned 91,539 shares in the company, valued at $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were 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 owned 62,455 shares of the company's stock, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock valued at $18,060,015 over the last ninety days. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Down 2.4%

Shares of JPM stock opened at $289.21 on Friday. The stock has a 50 day moving average of $281.04 and a 200 day moving average of $261.57. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. The stock has a market cap of $803.74 billion, a P/E ratio of 14.84, a P/E/G ratio of 2.00 and a beta of 1.11. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating 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 quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the business earned $6.12 earnings per share. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were given a $1.40 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is 28.73%.

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.

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