JPMorgan Chase & Co. (NYSE:JPM) Upgraded by Zacks Research to Strong-Buy Rating

JPMorgan Chase & Co. (NYSE:JPM) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $360.00 to $375.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays increased their target price on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday. Autonomous Res decreased their target price on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Finally, Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $354.92.

View Our Latest Research Report on JPM

JPMorgan Chase & Co. Trading Down 0.5%

Shares of NYSE JPM opened at $341.60 on Thursday. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $351.24. The firm has a market capitalization of $915.33 billion, a PE ratio of 14.64, a PEG ratio of 1.54 and a beta of 0.99. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The business has a 50-day moving average price of $319.11 and a two-hundred day moving average price of $310.31.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. The company had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.07 EPS. As a group, analysts predict that JPMorgan Chase & Co. will post 23.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the transaction, the chief financial officer owned 32,438 shares in the company, valued at approximately $10,036,641.58. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the transaction, the general counsel directly owned 46,428 shares in the company, valued at approximately $13,940,935.56. The trade was a 10.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 18,876 shares of company stock worth $5,907,051. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently modified their holdings of JPM. Timmons Wealth Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $32,000. MBM Wealth Consultants LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $29,000. Osbon Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $35,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Key JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

JPMorgan Chase & Co. Company Profile

(Get Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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

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