JPMorgan Chase & Co. (NYSE:JPM) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday, Zacks reports.
Several other equities research analysts have also recently issued reports on JPM. Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Jefferies Financial Group set a $350.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price target for the company in a research note on Wednesday, July 22nd. Robert W. Baird boosted their price target on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, Barclays increased their price objective on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Sixteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus target price of $359.96.
Check Out Our Latest Analysis on JPMorgan Chase & Co.
JPMorgan Chase & Co. Stock Up 1.1%
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping analysts’ consensus estimates of $5.59 by $0.55. The firm had revenue of $58.02 billion for the quarter, compared to analysts’ expectations of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business’s revenue for the quarter was up 27.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.96 earnings per share. Equities research analysts expect that JPMorgan Chase & Co. will post 24.3 earnings per share for the current year.
Insider Transactions at JPMorgan Chase & Co.
In other news, insider Robin Leopold sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $352.81, for a total value of $882,025.00. Following the sale, the insider directly owned 71,047 shares in the company, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the transaction, the general counsel directly owned 40,961 shares in the company, valued at approximately $13,547,031.53. The trade was a 11.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,467 shares of company stock worth $3,593,651 over the last 90 days. Company insiders own 0.41% of the company’s stock.
Hedge Funds Weigh In On JPMorgan Chase & Co.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Bullseye Investment Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the second quarter worth $390,000. Marathon Wealth Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 1.4% in the 2nd quarter. Marathon Wealth Advisors LLC now owns 14,499 shares of the financial services provider’s stock worth $4,746,000 after purchasing an additional 203 shares in the last quarter. U S Wealth Group LLC. boosted its position in shares of JPMorgan Chase & Co. by 11.7% in the 2nd quarter. U S Wealth Group LLC. now owns 11,454 shares of the financial services provider’s stock worth $3,749,000 after purchasing an additional 1,204 shares in the last quarter. Bouchey Financial Group Ltd. grew its stake in JPMorgan Chase & Co. by 2.1% during the 2nd quarter. Bouchey Financial Group Ltd. now owns 8,495 shares of the financial services provider’s stock worth $2,781,000 after buying an additional 172 shares during the last quarter. Finally, Core Capital Management & Research inc. acquired a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $1,106,000. 71.55% of the stock is owned by hedge funds and other institutional investors.
Trending Headlines about JPMorgan Chase & Co.
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: JPMorgan said third-quarter investment-banking fees and trading revenue are expected to show strong growth. Co-President Doug Petno also indicated that overall revenue is tracking ahead of expectations, helping reverse earlier weakness in the shares. JPMorgan expects investment banking, trading to shine in third quarter
- Positive Sentiment: The revenue outlook suggests continued momentum in JPMorgan’s capital-markets operations, including stronger deal activity and market-trading fees. The update provides a near-term catalyst following the bank’s recent earnings beat and robust year-over-year revenue growth. JPMorgan Chase stock rises after upbeat revenue outlook
- Neutral Sentiment: JPMorgan declared its regular quarterly dividend on common stock and dividends on Series CC preferred stock. The announcements reinforce shareholder distributions but appear routine rather than a new change in capital-return policy. JPMorganChase Declares Common Stock Dividend JPMorganChase Declares Preferred Stock Dividends
- Negative Sentiment: Investors continue to monitor signs that earnings growth may be slowing despite the benefit of higher interest rates. Jamie Dimon’s ongoing warnings about economic and structural pressures, along with elevated oil prices and potential effects on borrowers, remain longer-term risks for the bank. JPM Benefits from Higher Rates, but Earnings Growth Is Slowing
About JPMorgan Chase & Co.
JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.
The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.
JPMorgan Chase serves customers in the United States and maintains operations and client relationships across numerous international markets.
Read More
- Five stocks we like better than JPMorgan Chase & Co.
- Running on Empty: 3 Energy Plays for Europe’s Deep Freeze
- 3 Healthcare Stocks for 3 Stages of Life
- Curaleaf Tries To Roll Up Aurora In a Hostile Cannabis Bid
- MarketBeat’s Most Downgraded Stocks in Q3: 2 Look Cheap, 1 Looks Risky
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.
