JPMorgan Chase & Co. (NYSE:JPM) is First Financial Bankshares Inc’s 3rd Largest Position

First Financial Bankshares Inc cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 783,857 shares of the financial services provider’s stock after selling 14,113 shares during the quarter. JPMorgan Chase & Co. makes up about 4.1% of First Financial Bankshares Inc’s investment portfolio, making the stock its 3rd largest position. First Financial Bankshares Inc’s holdings in JPMorgan Chase & Co. were worth $187,898,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Midwest Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $43,000. Legacy Investment Solutions LLC purchased a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at approximately $45,000. Collier Financial acquired a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $45,000. Lowe Wealth Advisors LLC increased its position in JPMorgan Chase & Co. by 34.0% during the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after buying an additional 51 shares in the last quarter. Finally, Kieckhefer Group LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $50,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the transaction, the chief executive officer now owns 158,381 shares in the company, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction that occurred 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 directly owns 50,377 shares of the company’s stock, valued at $13,606,323.93. The trade was a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,848 shares of company stock worth $19,987,908 in the last quarter. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $250.99 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1-year low of $179.20 and a 1-year high of $280.25. The company has a market capitalization of $701.79 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 2.83 and a beta of 1.10. The business has a 50-day moving average of $257.99 and a 200-day moving average of $240.06.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results 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 firm had revenue of $42.77 billion during the quarter, compared to analysts’ expectations 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 prior year, the business earned $3.04 EPS. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be paid a dividend of $1.40 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 annualized dividend and a yield of 2.23%. JPMorgan Chase & Co.’s payout ratio is 28.37%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JPM. Piper Sandler increased their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Finally, Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $252.89.

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.