Citizens Business Bank Cuts Stock Holdings in JPMorgan Chase & Co. $JPM

Citizens Business Bank reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 23.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 24,919 shares of the financial services provider’s stock after selling 7,781 shares during the period. JPMorgan Chase & Co. accounts for about 1.2% of Citizens Business Bank’s holdings, making the stock its 21st largest holding. Citizens Business Bank’s holdings in JPMorgan Chase & Co. were worth $7,330,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Timmons Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $27,000. MBM Wealth Consultants LLC acquired a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $32,000. Osbon Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $35,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in JPMorgan Chase & Co. during the third quarter worth approximately $35,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan reported blowout Q2 results, including record net income of $21.2 billion, with CEO Jamie Dimon saying the economy remains “close to as good as it gets.” The bank also posted strong trading and investment banking performance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income — Up 41% — and CEO Jamie Dimon Said the Economy Is “Close to as Good as It Gets.”
• Positive Sentiment: Analysts turned more bullish after earnings, with Bank of America, Keefe, Bruyette & Woods, and Truist all lifting price targets, reflecting confidence in JPMorgan’s profitability, capital flexibility, and guidance for stronger net interest income. Analyst price-target updates
• Positive Sentiment: JPMorgan raised its full-year net interest income outlook to $105.5 billion, signaling that core lending revenue remains resilient even after the Federal Reserve’s policy changes. JPMorgan Chase Just Posted 86% Growth in Equities Trading Revenue and Raised Its Full-Year Net Interest Income Guidance to $105.5 Billion
• Neutral Sentiment: JPMorgan continued to show market leadership and a path toward a possible $1 trillion valuation, helped by its scale in lending, trading, and dealmaking, but that milestone may also be encouraging some short-term profit taking after the stock’s sharp run. Dimon-led JPMorgan poised to become world’s first $1 trillion bank
• Neutral Sentiment: The bank also announced a $24 million investment in Philadelphia shipbuilding and defense manufacturing, which supports its long-term industrial finance strategy but is unlikely to move the stock materially by itself. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Some commentary focused on JPMorgan’s higher expense outlook following earnings, suggesting costs could rise faster than investors expected and tempering enthusiasm after the strong report. Its Dividend Looks Secure, But Don’t Chase JPM Stock After Q2 Earnings. Here’s Why.

Analyst Upgrades and Downgrades

JPM has been the subject of several recent research reports. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, May 12th. Evercore restated an “outperform” rating and set a $360.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. Autonomous Res decreased their target price on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Weiss Ratings upgraded JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, July 6th. Finally, Piper Sandler raised their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Fifteen research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $354.92.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 3,022 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the transaction, the chief financial officer owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the transaction, the chief operating officer owned 85,082 shares in the company, valued at approximately $26,326,072.44. This trade represents a 5.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,876 shares of company stock valued at $5,907,051 in the last quarter. Corporate insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.1%

NYSE:JPM opened at $343.02 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The business’s 50 day moving average is $318.31 and its two-hundred day moving average is $310.09. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $351.24. The company has a market cap of $919.14 billion, a PE ratio of 14.70, a P/E/G ratio of 1.57 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. The business had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.07 EPS. On average, analysts predict that JPMorgan Chase & Co. will post 22.95 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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

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.