Mengis Capital Management Inc. Has $13.66 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Mengis Capital Management Inc. cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 56,995 shares of the financial services provider’s stock after selling 359 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.8% of Mengis Capital Management Inc.’s portfolio, making the stock its 5th biggest holding. Mengis Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $13,662,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mizuho Securities Co. Ltd. bought a new position in shares of JPMorgan Chase & Co. during the third quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new position in JPMorgan Chase & Co. in the third quarter valued at approximately $27,000. New England Capital Financial Advisors LLC grew its stake in JPMorgan Chase & Co. by 38.5% in the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 50 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $43,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $45,000. 71.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research report on Friday, January 3rd. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Barclays lifted their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Piper Sandler raised their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Citigroup raised their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $251.78.

Insider Buying and Selling

In related news, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the sale, the insider now owns 50,377 shares in the company, valued at $13,606,323.93. The trade was a 2.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,326 shares of company stock worth $12,448,445 in the last 90 days. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Down 2.2 %

Shares of JPM stock opened at $246.12 on Friday. The firm has a market capitalization 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. JPMorgan Chase & Co. has a twelve month low of $179.20 and a twelve month high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock’s fifty day simple moving average is $259.38 and its 200 day simple moving average is $238.07.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were given a dividend of $1.25 per share. The ex-dividend date was Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 2.03%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.33%.

About JPMorgan Chase & Co.

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.