Trustco Bank Corp N Y Sells 2,929 Shares of JPMorgan Chase & Co. $JPM

Trustco Bank Corp N Y reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 11.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 22,056 shares of the financial services provider’s stock after selling 2,929 shares during the quarter. JPMorgan Chase & Co. comprises about 6.4% of Trustco Bank Corp N Y’s holdings, making the stock its 2nd largest position. Trustco Bank Corp N Y’s holdings in JPMorgan Chase & Co. were worth $7,107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Twin City Private Wealth LLC grew its stake in shares of JPMorgan Chase & Co. by 3.7% during the 4th quarter. Twin City Private Wealth LLC now owns 13,956 shares of the financial services provider’s stock worth $4,497,000 after purchasing an additional 501 shares during the period. Tenzing Financial LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $656,000. TritonPoint Partners LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $2,445,000. WealthTrust Axiom LLC grew its stake in shares of JPMorgan Chase & Co. by 0.7% during the 4th quarter. WealthTrust Axiom LLC now owns 5,723 shares of the financial services provider’s stock worth $1,844,000 after purchasing an additional 42 shares during the period. Finally, Zinnia Wealth Advisory LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $443,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. UBS Group lowered their price target on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Argus upped their price target on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Finally, Robert W. Baird set a $295.00 price target on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus price target of $339.08.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $319.36 on Tuesday. The stock has a market cap of $855.74 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.57 and a beta of 1.00. JPMorgan Chase & Co. has a 52 week low of $266.85 and a 52 week high of $337.25. The company’s 50-day moving average price is $306.78 and its 200 day moving average price is $307.14. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. The firm had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company earned $5.07 EPS. As a group, research analysts forecast that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorganChase declared dividends on its Series CC preferred stock, a routine but supportive signal that the bank continues returning capital to investors. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: The company announced it will hold a 2027 Investor Day in New York, which may help build confidence by giving management a platform to discuss long-term growth, capital plans, and strategy. JPMorganChase Announces 2027 Investor Day
• Positive Sentiment: JPMorgan’s trading desk said the market could see a broad risk-on move after the Iran-related peace news, which could favor cyclicals and financials like JPM if investor sentiment improves. Stock Market Poised for ‘Broad Risk-On Impulse,’ Says JPMorgan
• Neutral Sentiment: Several articles mentioned JPMorgan in market commentary and stock-picking notes, but they do not appear to change the bank’s fundamentals directly. Which is the Better Bank Stock to Buy: JPMorgan or Citigroup?
• Negative Sentiment: One broader theme in the market is a possible rotation toward higher-beta and cyclically sensitive names, which could slightly pressure defensive large-cap financial trades if investors shift away from quality premiums. Morgan Stanley’s Wilson Sees US Stock Market Rally Broadening

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the sale, the general counsel directly owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. This represents a 10.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the sale, the chief financial officer directly owned 32,438 shares in the company, valued at approximately $10,036,641.58. The trade was a 8.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,589 shares of company stock valued at $8,747,496 in the last quarter. Insiders own 0.41% of the company’s stock.

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.