Westpac Banking Corp Has $26.51 Million Stake in JPMorgan Chase & Co. $JPM

by · The Markets Daily

Westpac Banking Corp boosted its stake in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 43.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,428 shares of the financial services provider’s stock after buying an additional 27,680 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.8% of Westpac Banking Corp’s investment portfolio, making the stock its 8th largest holding. Westpac Banking Corp’s holdings in JPMorgan Chase & Co. were worth $26,506,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of JPM. Harbor Asset Planning Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $26,000. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. in the 1st quarter worth approximately $28,000. University of Illinois Foundation acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $30,000. Ryan Investment Management Inc. acquired a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $37,000. Finally, Christopher J. Hasenberg Inc raised its stake in JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 106 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the topic of a number of research analyst reports. Truist Financial raised their price target on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a report on Tuesday, September 23rd. Loop Capital set a $310.00 target price on shares of JPMorgan Chase & Co. in a research note on Thursday, October 23rd. The Goldman Sachs Group restated a “buy” rating and set a $366.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Evercore ISI increased their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Finally, TD Cowen upped their target price on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $326.38.

View Our Latest Report on JPM

JPMorgan Chase & Co. Stock Up 1.8%

Shares of JPMorgan Chase & Co. stock opened at $303.22 on Wednesday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $322.25. The firm has a market capitalization of $825.45 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The stock’s fifty day moving average is $307.08 and its 200-day moving average is $292.45.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The business had revenue of $47.12 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.JPMorgan Chase & Co.’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the company posted $4.37 EPS. Equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were issued a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider owned 58,479 shares in the company, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Company Profile

(Free Report)

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

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