JPMorgan Chase & Co. (JPM) Stock Rating Upgraded by Zacks Investment Research

JPMorgan Chase & Co. (NYSE:JPM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm presently has a $126.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 11.56% from the stock’s current price.

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.”

Several other research firms have also issued reports on JPM. Argus boosted their price target on shares of JPMorgan Chase & Co. from $109.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, January 12th. Vining Sparks reissued a “buy” rating and issued a $120.00 price target on shares of JPMorgan Chase & Co. in a research report on Friday, January 12th. Bank of America set a $119.00 price target on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Monday. Deutsche Bank set a $96.00 price target on shares of JPMorgan Chase & Co. and gave the company a “neutral” rating in a research report on Tuesday. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $125.00 price target (up previously from $120.00) on shares of JPMorgan Chase & Co. in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $105.81.

Shares of JPMorgan Chase & Co. (JPM) opened at $112.94 on Thursday. JPMorgan Chase & Co. has a 12-month low of $81.64 and a 12-month high of $113.43. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.01 and a quick ratio of 1.03. The stock has a market cap of $392,040.00, a P/E ratio of 17.70, a PEG ratio of 2.00 and a beta of 1.22.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the 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 for the quarter, compared to analyst estimates of $24.87 billion. During the same quarter in the previous year, the firm posted $1.71 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. sell-side analysts expect that JPMorgan Chase & Co. will post 8.41 EPS for the current year.

In other JPMorgan Chase & Co. news, CEO Mary E. Erdoes sold 65,101 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $112.25, for a total value of $7,307,587.25. Following the completion of the transaction, the chief executive officer now owns 479,882 shares of the company’s stock, valued at approximately $53,866,754.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 17,729 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $112.33, for a total transaction of $1,991,498.57. Following the completion of the transaction, the general counsel now directly owns 21,260 shares of the company’s stock, valued at approximately $2,388,135.80. The disclosure for this sale can be found here. In the last three months, insiders sold 127,614 shares of company stock valued at $14,302,869. Corporate insiders own 0.88% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its stake in shares of JPMorgan Chase & Co. by 517.3% in the 2nd quarter. Janus Henderson Group PLC now owns 5,553,819 shares of the financial services provider’s stock valued at $507,632,000 after purchasing an additional 4,654,113 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of JPMorgan Chase & Co. by 9,301.6% in the 3rd quarter. Stifel Financial Corp now owns 4,351,736 shares of the financial services provider’s stock valued at $415,662,000 after purchasing an additional 4,305,449 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of JPMorgan Chase & Co. by 29.2% in the 2nd quarter. Alliancebernstein L.P. now owns 17,456,699 shares of the financial services provider’s stock valued at $1,595,542,000 after purchasing an additional 3,945,948 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of JPMorgan Chase & Co. by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 249,887,622 shares of the financial services provider’s stock valued at $22,839,729,000 after purchasing an additional 3,717,683 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of JPMorgan Chase & Co. by 40.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 9,769,017 shares of the financial services provider’s stock valued at $892,886,000 after purchasing an additional 2,828,726 shares in the last quarter. 73.78% of the stock is owned by institutional investors and hedge funds.

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JPMorgan Chase & Co. Company Profile

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.

Analyst Recommendations for JPMorgan Chase & Co. (NYSE:JPM)

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