Mechanics Bank Trust Department Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

Mechanics Bank Trust Department grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,216 shares of the financial services provider’s stock after acquiring an additional 466 shares during the period. JPMorgan Chase & Co. comprises approximately 1.1% of Mechanics Bank Trust Department’s portfolio, making the stock its 27th largest position. Mechanics Bank Trust Department’s holdings in JPMorgan Chase & Co. were worth $7,932,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of JPM. Capital International Investors boosted its stake in shares of JPMorgan Chase & Co. by 1.9% in the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock valued at $8,471,687,000 after buying an additional 778,297 shares during the period. Norges Bank acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $6,016,878,000. Capital World Investors lifted its stake in JPMorgan Chase & Co. by 0.4% in the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after acquiring an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in JPMorgan Chase & Co. by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock worth $3,629,757,000 after acquiring an additional 695,502 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of JPMorgan Chase & Co. by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,170,399 shares of the financial services provider’s stock valued at $3,389,329,000 after purchasing an additional 154,426 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM traded up $1.74 on Friday, hitting $205.80. 5,540,240 shares of the company traded hands, compared to its average volume of 9,292,017. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $217.56. The company has a 50 day moving average of $203.58 and a 200-day moving average of $194.43. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $590.99 billion, a PE ratio of 11.48, a PEG ratio of 2.42 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly 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. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter in the prior year, the business earned $4.37 earnings per share. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is 25.66%.

Insider Transactions at JPMorgan Chase & Co.

In related news, CEO Marianne Lake sold 11,734 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $200.02, for a total value of $2,347,034.68. Following the completion of the sale, the chief executive officer now owns 122,740 shares in the company, valued at $24,550,454.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the sale, the general counsel now directly owns 42,124 shares in the company, valued at approximately $8,452,180.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marianne Lake sold 11,734 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $200.02, for a total transaction of $2,347,034.68. Following the completion of the transaction, the chief executive officer now owns 122,740 shares of the company’s stock, valued at approximately $24,550,454.80. The disclosure for this sale can be found here. Insiders have sold a total of 26,533 shares of company stock worth $5,310,756 over the last ninety days. 0.79% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

JPM has been the subject of several recent analyst reports. Morgan Stanley lifted their price objective on shares of JPMorgan Chase & Co. from $221.00 to $226.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Oppenheimer upped their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $211.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.71.

About JPMorgan Chase & Co.

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.