Washington Trust Bank Has $23.54 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Washington Trust Bank trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 6.3% in the 4th quarter, Holdings Channel reports. The fund owned 98,214 shares of the financial services provider’s stock after selling 6,645 shares during the quarter. JPMorgan Chase & Co. comprises 2.3% of Washington Trust Bank’s portfolio, making the stock its 11th biggest holding. Washington Trust Bank’s holdings in JPMorgan Chase & Co. were worth $23,543,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Midwest Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $43,000. Legacy Investment Solutions LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $45,000. Collier Financial bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $45,000. Lowe Wealth Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 34.0% in the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $48,000 after purchasing 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 valued at $50,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several analyst reports. UBS Group boosted their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods increased 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 research report on Thursday, January 16th. Bank of America raised their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Piper Sandler increased their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Robert W. Baird upgraded 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. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Trading Down 1.1 %

Shares of NYSE JPM opened at $248.35 on Friday. JPMorgan Chase & Co. has a 1-year low of $179.20 and a 1-year high of $280.25. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average of $257.88 and a two-hundred day moving average of $240.12. The company has a market cap of $694.41 billion, a PE ratio of 12.58, a P/E/G ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business’s revenue for the quarter 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. As a group, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.25%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.37%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the sale, the chief operating officer now owns 54,469 shares in the company, valued at approximately $14,698,459.65. The trade was a 7.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the transaction, the insider now directly owns 50,377 shares in the company, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock worth $19,987,908 over the last three months. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Company Profile

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.