JPMorgan Chase & Co. (NYSE:JPM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm presently has a $129.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.53% from the stock’s previous close.
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 bank’s efforts to manage expenses, higher interest rates and rising loan demand will likely continue to benefit its financials. Also, lower tax rates will aid profitability in the quarters ahead. While, fee income growth challenges and litigation hassles continue to remain key near-term concerns, the company is expected to continue to enhance shareholder value through efficient capital deployment activities.”
A number of other analysts also recently weighed in on the stock. Credit Suisse Group raised their price target on shares of JPMorgan Chase & Co. from $125.00 to $127.00 and gave the stock an “outperform” rating in a research report on Monday. Vetr raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a $111.60 price target for the company in a research report on Thursday, March 8th. BMO Capital Markets raised their price target on shares of JPMorgan Chase & Co. from $110.00 to $111.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Nomura raised their price target on shares of JPMorgan Chase & Co. from $113.00 to $117.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Finally, Jefferies Group reissued a “buy” rating and set a $131.00 price target (up previously from $124.00) on shares of JPMorgan Chase & Co. in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average target price of $111.03.
Shares of JPMorgan Chase & Co. stock opened at $114.64 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.01 and a quick ratio of 1.01. JPMorgan Chase & Co. has a 1 year low of $81.64 and a 1 year high of $119.33. The stock has a market cap of $396,185.34, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 1.95 and a beta of 1.18.
JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.07. JPMorgan Chase & Co. had a net margin of 21.46% and a return on equity of 11.63%. The company had revenue of $24.15 billion during the quarter, compared to the consensus estimate of $24.87 billion. During the same quarter last year, the company earned $1.71 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 3.3% on a year-over-year basis. equities research analysts forecast that JPMorgan Chase & Co. will post 8.9 EPS for the current fiscal year.
In other JPMorgan Chase & Co. news, CEO Mary E. Erdoes sold 65,101 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $112.25, for a total value of $7,307,587.25. Following the sale, the chief executive officer now directly owns 479,882 shares in the company, valued at $53,866,754.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ashley Bacon sold 16,434 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $112.22, for a total value of $1,844,223.48. Following the completion of the sale, the insider now owns 98,811 shares in the company, valued at $11,088,570.42. The disclosure for this sale can be found here. Insiders have sold 152,047 shares of company stock worth $17,098,115 over the last 90 days. 0.88% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of JPM. Financial Gravity Companies Inc. bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $104,000. Keeler Thomas Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $112,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at about $102,000. Welch Investments LLC bought a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at about $103,000. Finally, Cerebellum GP LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $119,000. Institutional investors own 74.47% of the company’s stock.
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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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