Pioneer Trust Bank N A OR Trims Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Pioneer Trust Bank N A OR cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,344 shares of the financial services provider’s stock after selling 1,585 shares during the period. JPMorgan Chase & Co. makes up 2.9% of Pioneer Trust Bank N A OR’s holdings, making the stock its 11th biggest holding. Pioneer Trust Bank N A OR’s holdings in JPMorgan Chase & Co. were worth $7,082,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Lenox Wealth Management Inc. increased its position in shares of JPMorgan Chase & Co. by 15.7% during the second quarter. Lenox Wealth Management Inc. now owns 2,124 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 289 shares during the last quarter. Destination Wealth Management grew its holdings in shares of JPMorgan Chase & Co. by 29.0% in the second quarter. Destination Wealth Management now owns 8,583 shares of the financial services provider’s stock valued at $960,000 after purchasing an additional 1,931 shares in the last quarter. SeaCrest Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 10.1% in the second quarter. SeaCrest Wealth Management LLC now owns 28,653 shares of the financial services provider’s stock valued at $3,203,000 after purchasing an additional 2,639 shares in the last quarter. Black Diamond Financial LLC acquired a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $208,000. Finally, Davy Asset Management Ltd acquired a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $11,290,000. 71.52% of the stock is currently owned by institutional investors.

A number of research analysts recently weighed in on JPM shares. Deutsche Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Friday, June 28th. Morgan Stanley lifted their price objective on shares of JPMorgan Chase & Co. from $124.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Zacks Investment Research cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Credit Suisse Group lifted their price objective on shares of JPMorgan Chase & Co. from $128.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Finally, BMO Capital Markets lifted their price objective on shares of JPMorgan Chase & Co. from $116.00 to $118.00 and gave the company a “market perform” rating in a report on Monday, April 15th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $122.94.

NYSE JPM traded down $2.84 on Monday, hitting $110.09. 443,945 shares of the stock were exchanged, compared to its average volume of 10,896,389. The company has a current ratio of 0.97, a quick ratio of 1.00 and a debt-to-equity ratio of 1.22. JPMorgan Chase & Co. has a fifty-two week low of $91.11 and a fifty-two week high of $119.24. The firm has a market cap of $366.34 billion, a P/E ratio of 12.20, a PEG ratio of 1.63 and a beta of 1.16. The firm has a 50-day simple moving average of $112.95.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.50 by $0.32. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.41%. The company had revenue of $28.83 billion during the quarter, compared to analysts’ expectations of $28.52 billion. During the same quarter in the previous year, the business posted $2.29 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 9.92 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.91%. The ex-dividend date was Wednesday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 35.56%.

In other news, EVP Peter Scher sold 10,816 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $115.00, for a total transaction of $1,243,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lori A. Beer sold 13,341 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $114.28, for a total transaction of $1,524,609.48. Following the sale, the insider now owns 10,130 shares of the company’s stock, valued at approximately $1,157,656.40. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

JPMorgan Chase & Co. Profile

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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

Featured Story: Preferred Stock

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.