Westpac Banking Corp Cuts Position in JPMorgan Chase & Co. $JPM

Westpac Banking Corp lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% in the first quarter, HoldingsChannel reports. The fund owned 86,654 shares of the financial services provider’s stock after selling 1,762 shares during the period. JPMorgan Chase & Co. makes up 1.8% of Westpac Banking Corp’s portfolio, making the stock its 8th largest position. Westpac Banking Corp’s holdings in JPMorgan Chase & Co. were worth $25,490,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in JPM. Chase Investment Counsel Corp raised its holdings in shares of JPMorgan Chase & Co. by 87.9% in the first quarter. Chase Investment Counsel Corp now owns 1,821 shares of the financial services provider’s stock valued at $535,000 after purchasing an additional 852 shares during the last quarter. Fortis Capital Management LLC boosted its holdings in JPMorgan Chase & Co. by 6.4% during the first quarter. Fortis Capital Management LLC now owns 3,202 shares of the financial services provider’s stock worth $942,000 after purchasing an additional 194 shares during the last quarter. CacheTech Inc. boosted its holdings in JPMorgan Chase & Co. by 56.4% during the first quarter. CacheTech Inc. now owns 2,569 shares of the financial services provider’s stock worth $756,000 after purchasing an additional 926 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab grew its position in JPMorgan Chase & Co. by 41.3% in the first quarter. Danica Pension Livsforsikringsaktieselskab now owns 260,357 shares of the financial services provider’s stock valued at $76,587,000 after purchasing an additional 76,128 shares in the last quarter. Finally, ABN Amro Investment Solutions grew its position in JPMorgan Chase & Co. by 70.8% in the first quarter. ABN Amro Investment Solutions now owns 323,111 shares of the financial services provider’s stock valued at $95,046,000 after purchasing an additional 133,894 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan continues to draw favorable analyst attention, with multiple reports saying it remains a strong long-term and momentum pick for investors. Wall Street Analysts Think JPMorgan Chase & Co. (JPM) Is a Good Investment: Is It?
• Positive Sentiment: Recent commentary highlighted JPMorgan’s earnings strength and AI-related growth themes in banking, which supports the view that the company can keep outperforming peers. JPMorgan Sees AI-Powered Growth For Banks; Stock Pops Into Buy Zone After Earnings Growth
• Positive Sentiment: JPMorgan was also cited as a top momentum candidate and long-term stock pick by Zacks, adding to the bullish sentiment around the shares. Are You Looking for a Top Momentum Pick? Why JPMorgan Chase & Co. (JPM) is a Great Choice
• Neutral Sentiment: The bank completed $9 billion in debt offerings, which is a routine capital-markets transaction that may help funding flexibility but is not clearly a major near-term catalyst. JPMorgan Chase Raises $9 Billion Through Debt Offerings
• Neutral Sentiment: JPMorgan’s broader market commentary on oil, Iran-related disruption, and global risks reflects its macro views, but these notes are more informative than directly stock-moving for JPM itself. Here’s what each additional month of Iran-conflict disruption means for oil prices
• Negative Sentiment: House lawmakers questioned former JPMorgan executive Jes Staley over Epstein-related ties, which keeps reputational and legal-overhang concerns in the background for the bank. House lawmakers grill former JPMorgan executive Jes Staley over Epstein ties

JPMorgan Chase & Co. Stock Up 0.9%

Shares of JPM stock opened at $352.88 on Friday. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $353.37. The stock has a market cap of $945.55 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.56 and a beta of 0.99. The firm’s 50-day moving average is $323.74 and its 200-day moving average is $311.13. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping analysts’ consensus estimates of $5.59 by $0.55. The business had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.JPMorgan Chase & Co.’s quarterly revenue was up 27.7% on a year-over-year basis. During the same quarter last year, the company posted $4.96 earnings per share. Sell-side analysts predict that JPMorgan Chase & Co. will post 23.97 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.71%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Morgan Stanley restated a “positive” rating and issued a $370.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. Robert W. Baird lifted their target price on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Jefferies Financial Group set a $350.00 target price on JPMorgan Chase & Co. in a report on Tuesday, July 14th. Finally, Evercore reissued an “outperform” rating and set a $360.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $358.67.

Insider Transactions at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 4,919 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the transaction, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the sale, the general counsel owned 46,428 shares in the company, valued at approximately $13,940,935.56. This trade represents a 10.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 18,876 shares of company stock worth $5,907,051. 0.41% of the stock is owned by company insiders.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.