Mechanics Bank Trust Department Boosts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Mechanics Bank Trust Department raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 40,000 shares of the financial services provider’s stock after acquiring an additional 976 shares during the period. JPMorgan Chase & Co. comprises about 1.3% of Mechanics Bank Trust Department’s investment portfolio, making the stock its 20th biggest position. Mechanics Bank Trust Department’s holdings in JPMorgan Chase & Co. were worth $9,588,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. during the third quarter valued at approximately $1,888,088,000. Fisher Asset Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 31.7% during the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after purchasing an additional 4,043,841 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of JPMorgan Chase & Co. by 137.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock valued at $922,760,000 after purchasing an additional 2,535,590 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in JPMorgan Chase & Co. by 93.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock worth $567,669,000 after buying an additional 1,301,764 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after buying an additional 1,016,289 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on JPM. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Truist Financial increased their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Finally, Daiwa Capital Markets cut their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $251.78.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.0 %

Shares of JPM opened at $263.02 on Thursday. JPMorgan Chase & Co. has a 12-month low of $168.44 and a 12-month high of $264.25. The firm has a market capitalization of $740.48 billion, a P/E ratio of 13.32, a P/E/G ratio of 2.81 and a beta of 1.11. The firm has a 50-day moving average price of $244.37 and a 200 day moving average price of $225.29. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The business had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.04 EPS. Sell-side analysts forecast that JPMorgan Chase & Co. will post 17.65 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.