Douglas B. Petno, Co-CEO of the Corporate & Investment Bank at JPMorgan Chase & Co. (NYSE:JPM), recently sold a portion of his holdings in the company. According to a recent SEC filing, Petno sold 3,491 shares of common stock at an average price of $253.96 per share, amounting to a total transaction value of $886,565. Following this sale, Petno retains direct ownership of 338,935 shares. Additionally, he holds 35,538 shares indirectly through family trusts and 50,488 shares through Grantor Retained Annuity Trusts (GRATs). With JPMorgan's market capitalization at $712.8 billion and a P/E ratio of 12.8, the stock remains a significant player in the banking sector. For deeper insights into JPM's valuation metrics and 10+ additional ProTips, visit InvestingPro, where you'll find comprehensive research reports and expert analysis.
In other recent news, JPMorgan Chase & Co. has been garnering attention from several financial firms. RBC Capital Markets upgraded JPMorgan's stock target to $260, citing impressive fourth-quarter earnings and robust capital levels. Keefe, Bruyette & Woods maintained a Market Perform rating, coinciding with the appointment of Jennifer Piepszak as the new Chief Operating Officer. Truist Securities also updated its financial outlook for JPMorgan, increasing the bank's price target from $260.00 to $268.00 due to an anticipated rise in earnings per share.
UBS reaffirmed its Buy rating on the stock and increased their price target for JPMorgan shares to $287, highlighting the bank's consistent ability to exceed expectations. These developments reflect the bank's recent earnings report, which surpassed analyst expectations in terms of revenue and net interest income.
The revised earnings per share estimates for the years 2025 and 2026 by RBC Capital, along with the price target adjustments by other firms, indicate an optimistic outlook for JPMorgan's financial performance. These are recent developments, reflecting the bank's performance and outlook amidst the evolving economic landscape.
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