JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,378 shares of the financial services provider’s stock after selling 622 shares during the period. JPMorgan Chase & Co. accounts for about 1.3% of Mechanics Bank Trust Department’s investment portfolio, making the stock its 21st largest position. Mechanics Bank Trust Department’s holdings in JPMorgan Chase & Co. were worth $9,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Redwood Park Advisors LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $29,000. Sellwood Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $34,000. Investment Counsel Co. of Nevada purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $37,000. Midwest Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $43,000. Finally, Prudent Man Investment Management Inc. acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $43,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. KGI Securities started coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a “hold” rating on the stock. Morgan Stanley lifted their price target on shares of JPMorgan Chase & Co. from $235.00 to $236.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $285.00 price objective (up from $255.00) on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Robert W. Baird raised their target price on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, May 20th. Finally, Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $266.65.

JPMorgan Chase & Co. Trading Down 0.2%

NYSE:JPM opened at $263.97 on Friday. The stock has a market cap of $733.60 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a one year low of $190.88 and a one year high of $280.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The business’s 50-day simple moving average is $245.86 and its 200 day simple moving average is $249.19.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. The company had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. JPMorgan Chase & Co.’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $4.44 EPS. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 2.12%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.49%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the sale, the insider now directly owns 49,127 shares of the company’s stock, valued at $12,130,438.84. The trade was a 2.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel now directly owns 36,520 shares in the company, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,594 shares of company stock worth $23,991,061 in the last ninety days. 0.47% of the stock is owned by insiders.

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.