Park National Corp OH trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 575,641 shares of the financial services provider’s stock after selling 3,860 shares during the quarter. JPMorgan Chase & Co. makes up 3.5% of Park National Corp OH’s holdings, making the stock its 3rd biggest holding. Park National Corp OH’s holdings in JPMorgan Chase & Co. were worth $64,357,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Smart Portfolios LLC increased its holdings in JPMorgan Chase & Co. by 29.6% in the fourth quarter. Smart Portfolios LLC now owns 499 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 114 shares in the last quarter. Contravisory Investment Management Inc. increased its holdings in JPMorgan Chase & Co. by 188.3% in the fourth quarter. Contravisory Investment Management Inc. now owns 542 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 354 shares in the last quarter. Semmax Financial Advisors Inc. bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth approximately $56,000. Bogart Wealth LLC increased its holdings in JPMorgan Chase & Co. by 19.0% in the fourth quarter. Bogart Wealth LLC now owns 625 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 100 shares in the last quarter. Finally, D Orazio & Associates Inc. increased its holdings in JPMorgan Chase & Co. by 62.6% in the fourth quarter. D Orazio & Associates Inc. now owns 779 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 300 shares in the last quarter. 71.43% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on JPM. Deutsche Bank set a $142.00 target price on MCCORMICK & CO /SH and gave the stock a “hold” rating in a report on Friday, June 28th. Credit Suisse Group boosted their price objective on JPMorgan Chase & Co. from $128.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Royal Bank of Canada boosted their price objective on Johnson Service Group from GBX 180 ($2.35) to GBX 190 ($2.48) and gave the company an “outperform” rating in a report on Tuesday, July 16th. Zacks Investment Research downgraded Hess Midstream Partners from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. Finally, Goldman Sachs Group downgraded Cadence Bancorp from a “buy” rating to a “neutral” rating and set a $18.00 price objective for the company. in a report on Monday. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $122.94.
JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.50 by $0.32. JPMorgan Chase & Co. had a return on equity of 14.41% and a net margin of 24.73%. The company had revenue of $28.83 billion for the quarter, compared to analysts’ expectations of $28.52 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts forecast that JPMorgan Chase & Co. will post 9.92 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $3.20 annualized dividend and a yield of 2.75%. JPMorgan Chase & Co.’s dividend payout ratio is currently 35.56%.
In other JPMorgan Chase & Co. news, insider Lori A. Beer sold 13,341 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $114.28, for a total value of $1,524,609.48. Following the sale, the insider now directly owns 10,130 shares in the company, valued at $1,157,656.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter Scher sold 10,816 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $115.00, for a total value of $1,243,840.00. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by insiders.
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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
Further Reading: What is a conference call?
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.