OLD National Bancorp IN Cuts Stock Position in JPMorgan Chase & Co. $JPM

OLD National Bancorp IN reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 105,080 shares of the financial services provider’s stock after selling 2,596 shares during the period. JPMorgan Chase & Co. accounts for about 0.5% of OLD National Bancorp IN’s portfolio, making the stock its 27th biggest position. OLD National Bancorp IN’s holdings in JPMorgan Chase & Co. were worth $30,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Davidson Trust Co. boosted its position in shares of JPMorgan Chase & Co. by 5.0% in the 1st quarter. Davidson Trust Co. now owns 13,259 shares of the financial services provider’s stock worth $3,900,000 after purchasing an additional 636 shares in the last quarter. Meyer Handelman Co. grew its holdings in shares of JPMorgan Chase & Co. by 2.5% during the first quarter. Meyer Handelman Co. now owns 313,274 shares of the financial services provider’s stock valued at $92,153,000 after buying an additional 7,626 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $40,418,000. Dagco Inc. increased its holdings in JPMorgan Chase & Co. by 1.1% in the 1st quarter. Dagco Inc. now owns 14,004 shares of the financial services provider’s stock worth $4,119,000 after buying an additional 147 shares during the period. Finally, Tower View Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 1.0% in the first quarter. Tower View Wealth Management LLC now owns 9,757 shares of the financial services provider’s stock worth $2,870,000 after acquiring an additional 98 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on JPM. Jefferies Financial Group reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Thursday. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. HSBC increased their price objective on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a research note on Monday, May 4th. UBS Group cut their price objective on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a report on Wednesday, May 6th. Finally, Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. Fourteen analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and an average target price of $339.58.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 9,136 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total value of $2,800,732.16. Following the completion of the transaction, the chief operating officer owned 90,001 shares in the company, valued at $27,590,706.56. The trade was a 9.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the transaction, the general counsel owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. The trade was a 10.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 33,623 shares of company stock worth $10,427,835 over the last 90 days. 0.41% of the stock is owned by insiders.

More JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
• Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
• Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title

JPMorgan Chase & Co. Price Performance

JPM stock opened at $328.73 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $880.83 billion, a PE ratio of 15.74, a P/E/G ratio of 1.53 and a beta of 1.00. The business’s fifty day moving average price is $311.44 and its 200 day moving average price is $308.38. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $343.45.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. During the same quarter last year, the firm posted $5.07 earnings per share. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 22.43 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.74%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.