Zacks Investment Research upgraded shares of JPMorgan Chase & Co. (NYSE:JPM) from a hold rating to a buy rating in a research note issued to investors on Thursday. The firm currently has $126.00 price target on the financial services provider’s stock.
According to Zacks, “JPMorgan's shares have outperformed the industry over the past six months. This price performance is backed by impressive earnings surprise history, with the company surpassing the Zacks Consensus Estimate in each of the trailing four quarters. The company’s fourth-quarter 2017 results benefited mainly from higher interest income and investment banking fees, partially offset by lower trading revenues and mortgage banking fess along with a surge in provisions for loan losses. The bank’s efforts to manage expenses, higher interest rates and rising loan demand will likely continue to benefit its financials. While the company faces persistent fee income growth challenge, mainly due to a slowdown in trading activities and dismal capital markets performance, lower tax rates will aid profitability in the quarters ahead.”
A number of other equities analysts also recently commented on JPM. Robert W. Baird restated a hold rating and issued a $88.00 price objective on shares of JPMorgan Chase & Co. in a report on Thursday, September 21st. Deutsche Bank downgraded JPMorgan Chase & Co. from a buy rating to a hold rating and increased their price objective for the stock from $90.00 to $96.00 in a report on Tuesday, September 26th. Citigroup increased their price objective on JPMorgan Chase & Co. from $90.00 to $96.00 and gave the stock a neutral rating in a report on Friday, October 6th. Credit Suisse Group restated a buy rating and issued a $110.00 price objective (up previously from $103.00) on shares of JPMorgan Chase & Co. in a report on Monday, October 9th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods restated a hold rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company. JPMorgan Chase & Co. has an average rating of Hold and an average price target of $105.81.
Shares of JPMorgan Chase & Co. (NYSE:JPM) traded down $0.25 on Thursday, hitting $113.01. The stock had a trading volume of 18,696,398 shares, compared to its average volume of 14,000,000. The firm has a market cap of $392,110.00, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22. JPMorgan Chase & Co. has a one year low of $81.64 and a one year high of $114.34. The company has a quick ratio of 1.03, a current ratio of 1.01 and a debt-to-equity ratio of 1.24.
JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, January 12th. The financial services provider reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.07. JPMorgan Chase & Co. had a return on equity of 11.63% and a net margin of 21.46%. The company had revenue of $24.15 billion for the quarter, compared to the consensus estimate of $24.87 billion. During the same quarter in the prior year, the company earned $1.71 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. equities analysts predict that JPMorgan Chase & Co. will post 8.78 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 5th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $2.24 annualized dividend and a yield of 1.98%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 35.11%.
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,099 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $101.96, for a total transaction of $214,014.04. Following the transaction, the general counsel now owns 15,279 shares in the company, valued at $1,557,846.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Peter Scher sold 17,057 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $112.20, for a total value of $1,913,795.40. Following the transaction, the executive vice president now owns 15,310 shares in the company, valued at approximately $1,717,782. The disclosure for this sale can be found here. In the last quarter, insiders have sold 154,146 shares of company stock worth $17,312,129. Corporate insiders own 0.88% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of JPM. Private Vista LLC bought a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $102,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $102,000. Welch Investments LLC bought a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $103,000. Legacy Advisors LLC bought a new position in JPMorgan Chase & Co. in the third quarter worth $106,000. Finally, Atlantic Trust LLC bought a new position in JPMorgan Chase & Co. in the second quarter worth $136,000. 73.78% of the stock is owned by institutional investors.
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About JPMorgan Chase & Co.
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
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