First Commonwealth Financial Corp PA Raises Holdings in JPMorgan Chase & Co. (NYSE:JPM)

First Commonwealth Financial Corp PA boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,542 shares of the financial services provider’s stock after purchasing an additional 1,291 shares during the period. JPMorgan Chase & Co. comprises 0.9% of First Commonwealth Financial Corp PA’s investment portfolio, making the stock its 16th largest position. First Commonwealth Financial Corp PA’s holdings in JPMorgan Chase & Co. were worth $3,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the sale, the insider now directly owns 50,377 shares in the company, valued at $13,606,323.93. The trade was a 2.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the transaction, the chief executive officer now owns 133,381 shares in the company, valued at $32,947,774.62. This trade represents a 15.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,545 shares of company stock valued at $19,149,144 in the last ninety days. 0.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on JPM shares. Barclays lifted their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. KGI Securities assumed coverage on JPMorgan Chase & Co. in a report on Sunday. They set a “hold” rating on the stock. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Truist Financial set a $261.00 price target on JPMorgan Chase & Co. in a research note on Monday. Finally, StockNews.com cut shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Monday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $254.67.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $229.73 on Thursday. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25. The stock has a 50-day moving average of $246.37 and a 200 day moving average of $242.27. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company has a market capitalization of $639.34 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 2.83 and a beta of 1.01.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same period in the previous year, the business posted $4.44 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a yield of 2.44%. JPMorgan Chase & Co.’s payout ratio is currently 27.49%.

JPMorgan Chase & Co. Company Profile

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.