81,950 Shares in JPMorgan Chase & Co. $JPM Purchased by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 81,950 shares of the financial services provider’s stock, valued at approximately $26,825,000. JPMorgan Chase & Co. comprises approximately 2.3% of Canandaigua National Bank & Trust Co.’s portfolio, making the stock its 9th biggest position.

Other large investors also recently made changes to their positions in the company. Morgan Stanley increased its holdings in shares of JPMorgan Chase & Co. by 1.4% in the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock valued at $21,390,662,000 after buying an additional 939,421 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of JPMorgan Chase & Co. by 15.8% during the 1st quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider’s stock worth $19,314,681,000 after acquiring an additional 8,941,351 shares in the last quarter. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $11,396,496,000. Bank of New York Mellon Corp grew its holdings in shares of JPMorgan Chase & Co. by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock worth $7,547,837,000 after acquiring an additional 1,194,583 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of JPMorgan Chase & Co. by 0.6% during the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock worth $6,128,484,000 after purchasing an additional 110,586 shares during the period. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on JPM shares. Robert W. Baird increased their price target on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. HSBC boosted their price objective on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 target price for the company in a report on Wednesday, July 22nd. Morgan Stanley restated a “positive” rating and set a $370.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $359.33.

JPMorgan Chase & Co. Stock Up 1.4%

JPMorgan Chase & Co. stock opened at $357.75 on Wednesday. The company has a market capitalization of $958.58 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.45 and a beta of 0.99. The firm’s fifty day simple moving average is $330.75 and its 200-day simple moving average is $312.43. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $363.00.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.55. The business had revenue of $58.02 billion during the quarter, compared to analyst estimates of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. JPMorgan Chase & Co.’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.96 EPS. Sell-side analysts forecast that JPMorgan Chase & Co. will post 24.27 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 6th were given a $1.50 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. JPMorgan Chase & Co.’s payout ratio is currently 25.71%.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: Large housing initiative could expand lending opportunities: JPMorgan plans to deploy more than $750 billion through 2035 through its American Dream Initiative. The program targets financing for 1 million affordable housing units, helping 500,000 people purchase homes, hiring 850 home-lending advisers and increasing mortgage lending by more than 40%. The initiative could support long-term loan growth, although its eventual profitability remains a key question. JPMorganChase Doubles Down on Housing
• Positive Sentiment: Broad financial-sector momentum provides a tailwind: The NYSE Financial Index advanced during Tuesday trading, indicating continued investor interest in banks and other financial companies as markets rotate toward established, value-oriented businesses. Sector Update: Financial Stocks Rise Late Afternoon
• Positive Sentiment: Potential infrastructure-finance transaction: JPMorgan is reportedly nearing a deal to acquire Idex, a French cooling-network provider owned by Antin Infrastructure Partners. The transaction could expand the bank’s investment-banking or infrastructure-finance footprint, though terms and strategic benefits have not been disclosed. JPMorgan Said to Near Deal For Antin’s French Cooling Network Provider
• Neutral Sentiment: Mixed interest-rate signals: JPMorgan economists reportedly moved up their forecast for a potential Federal Reserve rate increase before year-end, citing inflation and concerns about Fed credibility. Higher rates can support banks’ interest income, but they may also weaken loan demand and raise credit-risk concerns. JPMorgan says Warsh failure to buttress Fed credibility may force a rate hike
• Negative Sentiment: Valuation and macro concerns could limit upside: Analysts note that JPM’s strong recent share performance may already reflect much of the housing and earnings optimism. CEO Jamie Dimon has also warned that U.S. stocks and long-duration Treasuries appear expensive, a cautionary message for market valuations and investor sentiment. Jamie Dimon Just Said He Wouldn’t Buy the S&P 500 or Long-Dated Treasuries

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,467 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the sale, the general counsel owned 40,961 shares in the company, valued at approximately $13,547,031.53. This represents a 11.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Company Profile

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.