BankPlus Trust Department Buys New Shares in JPMorgan Chase & Co. (NYSE:JPM)

BankPlus Trust Department acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 12,776 shares of the financial services provider’s stock, valued at approximately $3,063,000. JPMorgan Chase & Co. makes up approximately 1.0% of BankPlus Trust Department’s holdings, making the stock its 17th biggest position.

A number of other hedge funds also recently made changes to their positions in the business. Quartz Partners LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $224,000. Edge Capital Group LLC raised its stake in shares of JPMorgan Chase & Co. by 1.1% in the 4th quarter. Edge Capital Group LLC now owns 108,854 shares of the financial services provider’s stock valued at $26,093,000 after buying an additional 1,213 shares in the last quarter. Holistic Financial Partners raised its stake in shares of JPMorgan Chase & Co. by 0.9% in the 4th quarter. Holistic Financial Partners now owns 15,573 shares of the financial services provider’s stock valued at $3,733,000 after buying an additional 134 shares in the last quarter. Crestwood Advisors Group LLC raised its stake in shares of JPMorgan Chase & Co. by 1.8% in the 4th quarter. Crestwood Advisors Group LLC now owns 247,066 shares of the financial services provider’s stock valued at $59,224,000 after buying an additional 4,442 shares in the last quarter. Finally, RPG Investment Advisory LLC raised its stake in shares of JPMorgan Chase & Co. by 0.3% in the 4th quarter. RPG Investment Advisory LLC now owns 43,960 shares of the financial services provider’s stock valued at $10,538,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a report on Friday, January 3rd. Citigroup upped their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus price target of $251.78.

JPMorgan Chase & Co. Stock Down 2.2 %

Shares of NYSE:JPM opened at $246.12 on Friday. The firm has a market cap of $688.17 billion, a P/E ratio of 12.47, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12 month low of $179.20 and a 12 month high of $280.25. The company’s 50-day moving average price is $259.38 and its two-hundred day moving average price is $238.07.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. The company had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 EPS. As a group, research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

Insider Activity

In related news, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now directly owns 54,469 shares in the company, valued at $14,698,459.65. This trade represents a 7.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,326 shares of company stock valued at $12,448,445. 0.79% of the stock is currently 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. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.