Commerce Bank Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Commerce Bank reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,203,140 shares of the financial services provider’s stock after selling 16,540 shares during the period. JPMorgan Chase & Co. comprises 1.8% of Commerce Bank’s portfolio, making the stock its 9th biggest position. Commerce Bank’s holdings in JPMorgan Chase & Co. were worth $288,405,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of JPM. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $8,310,884,000. Proficio Capital Partners LLC grew its stake in JPMorgan Chase & Co. by 34,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after purchasing an additional 3,489,314 shares in the last quarter. APG Asset Management N.V. increased its holdings in JPMorgan Chase & Co. by 457.7% during the 4th quarter. APG Asset Management N.V. now owns 2,725,473 shares of the financial services provider’s stock worth $630,925,000 after purchasing an additional 2,236,740 shares during the period. KLP Kapitalforvaltning AS bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $259,038,000. Finally, Franklin Resources Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after buying an additional 1,016,289 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $231.79 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The company’s fifty day moving average price is $245.59 and its 200-day moving average price is $242.42. JPMorgan Chase & Co. has a 1-year low of $179.97 and a 1-year high of $280.25. The firm has a market capitalization of $645.07 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.42%. The ex-dividend date is Friday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is 27.49%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 25,000 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the sale, the chief executive officer now directly owns 133,381 shares of the company’s stock, valued at approximately $32,947,774.62. This trade represents a 15.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jennifer Piepszak sold 4,272 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.03, for a total value of $1,055,312.16. Following the transaction, the chief operating officer now owns 50,197 shares of the company’s stock, valued at $12,400,164.91. The trade was a 7.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,545 shares of company stock valued at $19,149,144. 0.79% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on JPM shares. KGI Securities assumed coverage on JPMorgan Chase & Co. in a research note on Sunday. They set a “hold” rating on the stock. Truist Financial set a $261.00 price target on shares of JPMorgan Chase & Co. in a report on Monday. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Finally, UBS Group upped their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and an average target price of $255.67.

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.