JPMorgan Chase & Co. (NYSE:JPM) Stock Position Reduced by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 43,566 shares of the financial services provider’s stock after selling 1,835 shares during the quarter. JPMorgan Chase & Co. makes up 2.3% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings, making the stock its 10th largest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in JPMorgan Chase & Co. were worth $8,812,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Norges Bank acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $6,016,878,000. Swedbank AB acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $800,130,000. Capital Research Global Investors raised its holdings in shares of JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after purchasing an additional 3,252,451 shares in the last quarter. Capital International Investors lifted its stake in shares of JPMorgan Chase & Co. by 5.4% in the 4th quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after purchasing an additional 2,128,478 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in JPMorgan Chase & Co. by 3,836.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock worth $258,377,000 after purchasing an additional 1,480,379 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays raised their target price on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Morgan Stanley reduced their target price on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, May 21st. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, Citigroup raised their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $211.06.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $204.32 on Monday. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. The company has a market capitalization of $586.74 billion, a P/E ratio of 11.40, a P/E/G ratio of 2.33 and a beta of 1.12. The stock has a 50 day moving average of $211.34 and a two-hundred day moving average of $201.04. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period last year, the business earned $4.37 earnings per share. As a group, equities analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

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.