Versant Capital Management Inc Sells 1,540 Shares of JPMorgan Chase & Co. $JPM

Versant Capital Management Inc trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 10,685 shares of the financial services provider’s stock after selling 1,540 shares during the period. Versant Capital Management Inc’s holdings in JPMorgan Chase & Co. were worth $3,497,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. Hilltop National Bank lifted its stake in JPMorgan Chase & Co. by 1.9% in the second quarter. Hilltop National Bank now owns 11,391 shares of the financial services provider’s stock valued at $3,729,000 after acquiring an additional 216 shares during the last quarter. SWP Investment Management LLC grew its position in shares of JPMorgan Chase & Co. by 3.8% in the 2nd quarter. SWP Investment Management LLC now owns 12,012 shares of the financial services provider’s stock valued at $3,932,000 after acquiring an additional 440 shares during the period. First County Bank CT grew its position in shares of JPMorgan Chase & Co. by 13.5% in the 2nd quarter. First County Bank CT now owns 9,744 shares of the financial services provider’s stock valued at $3,190,000 after acquiring an additional 1,156 shares during the period. Miller Global Investments LLC increased its stake in shares of JPMorgan Chase & Co. by 58.3% during the 2nd quarter. Miller Global Investments LLC now owns 334 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 123 shares during the last quarter. Finally, Adelphi Trust Co increased its stake in shares of JPMorgan Chase & Co. by 32.0% during the 2nd quarter. Adelphi Trust Co now owns 9,825 shares of the financial services provider’s stock worth $3,216,000 after purchasing an additional 2,383 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a research report on Wednesday, July 22nd. Evercore restated an “outperform” rating and issued a $360.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. Weiss Ratings cut JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Finally, Piper Sandler raised their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $359.33.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $352.60 on Tuesday. The firm has a market capitalization of $944.79 billion, a PE ratio of 15.11, a PEG ratio of 1.45 and a beta of 0.99. The company’s 50-day moving average is $329.73 and its 200-day moving average is $312.08. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $359.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping the consensus estimate of $5.59 by $0.55. The business had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. JPMorgan Chase & Co.’s revenue was up 27.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.96 EPS. Equities analysts forecast that JPMorgan Chase & Co. will post 24.27 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 6th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.71%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the sale, the general counsel directly owned 40,961 shares in the company, valued at $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is owned by company insiders.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: JPMorgan announced plans to deploy more than $750 billion through 2035 through its American Dream Initiative—nearly 40% more housing capital than during the prior decade. The program targets financing for 1 million affordable housing units and assistance for 500,000 homebuyers, including 200,000 first-time buyers. JPMorganChase Doubles Down on Housing
• Positive Sentiment: The bank plans to increase mortgage lending by more than 40% and hire 850 Home Lending Advisors. Investors may view the expansion as a meaningful growth opportunity if housing supply improves and demand for mortgages, refinancing and affordable-housing finance strengthens. JPMorgan Stock Rises as Housing Plan Unfolds
• Positive Sentiment: Financial stocks advanced broadly, with the NYSE Financial Index rising 0.6%, providing a favorable sector backdrop for JPM. The move follows JPMorgan’s recent strong quarterly results, which exceeded analyst expectations for earnings and revenue. Sector Update: Financial Stocks Advance Late Afternoon
• Neutral Sentiment: JPMorgan economists reportedly brought forward their expectation for a possible year-end Federal Reserve rate increase, citing concerns about Fed credibility. Higher rates could support interest income but also pressure loan demand, bond values and credit quality. JPMorgan Rate Forecast
• Negative Sentiment: Commentary on the housing push warns that the large lending pipeline must pass a profitability test. The scale of the commitment could expose JPMorgan to margin pressure, housing-cycle risk and higher credit losses if returns do not justify the additional capital deployment. JPMorgan Makes Massive Push Into American Housing

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.