Cadence Bank Sells 612 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Cadence Bank cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the fourth quarter, HoldingsChannel reports. The firm owned 55,860 shares of the financial services provider’s stock after selling 612 shares during the period. JPMorgan Chase & Co. comprises 0.9% of Cadence Bank’s investment portfolio, making the stock its 22nd biggest position. Cadence Bank’s holdings in JPMorgan Chase & Co. were worth $13,390,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Redwood Park Advisors LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $29,000. Sellwood Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $34,000. Investment Counsel Co. of Nevada bought a new position in JPMorgan Chase & Co. during the fourth quarter worth $37,000. Midwest Capital Advisors LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter worth $43,000. Finally, Prudent Man Investment Management Inc. acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at $43,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $215.00 to $220.00 in a report on Friday, March 7th. UBS Group raised their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Evercore ISI cut their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. Finally, KGI Securities initiated coverage on shares of JPMorgan Chase & Co. in a research note on Sunday. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average target price of $255.67.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $231.79 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The firm has a market cap of $645.07 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a 12 month low of $179.97 and a 12 month high of $280.25. The company’s 50-day moving average price is $245.59 and its two-hundred day moving average price is $242.42.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the previous year, the business earned $4.44 EPS. JPMorgan Chase & Co.’s revenue was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Friday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.49%.

Insider Activity

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the sale, the chief executive officer now owns 158,381 shares of the company’s stock, valued at $42,737,529.04. This represents a 19.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $14,698,459.65. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,545 shares of company stock worth $19,149,144. 0.79% of the stock is owned by corporate insiders.

About JPMorgan Chase & Co.

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.