Cullen Frost Bankers Inc. Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Cullen Frost Bankers Inc. lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 392,733 shares of the financial services provider’s stock after selling 9,170 shares during the period. JPMorgan Chase & Co. makes up about 1.2% of Cullen Frost Bankers Inc.’s portfolio, making the stock its 22nd biggest position. Cullen Frost Bankers Inc.’s holdings in JPMorgan Chase & Co. were worth $79,434,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Instrumental Wealth LLC grew its position in JPMorgan Chase & Co. by 4.5% during the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 47 shares during the last quarter. Gemmer Asset Management LLC grew its position in JPMorgan Chase & Co. by 1.6% during the 2nd quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after purchasing an additional 48 shares during the last quarter. Great Point Wealth Advisors LLC grew its position in JPMorgan Chase & Co. by 0.9% during the 2nd quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock worth $1,151,000 after purchasing an additional 48 shares during the last quarter. Northside Capital Management LLC grew its position in JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock worth $1,365,000 after purchasing an additional 50 shares during the last quarter. Finally, Highland Financial Advisors LLC grew its position in JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Highland Financial Advisors LLC now owns 7,056 shares of the financial services provider’s stock worth $1,427,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $206.60 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The company has a fifty day moving average of $211.35 and a two-hundred day moving average of $200.65. The stock has a market capitalization of $593.29 billion, a PE ratio of 11.52, a P/E/G ratio of 2.39 and a beta of 1.12. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period in the prior year, the business posted $4.37 earnings per share. As a group, research analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Robert W. Baird upped their price objective on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Morgan Stanley dropped their price objective on shares of JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $211.06.

JPMorgan Chase & Co. 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.