JPMorgan Chase & Co. (JPM) Upgraded to “Buy” by Credit Suisse Group
JPMorgan Chase & Co. (NYSE:JPM) was upgraded by analysts at Credit Suisse Group to a “buy” rating in a research note issued on Friday. The firm currently has a $120.00 target price on the financial services provider’s stock. Credit Suisse Group’s price target points to a potential upside of 10.76% from the company’s current price.
A number of other research firms have also weighed in on JPM. Barclays upped their target price on JPMorgan Chase & Co. from $105.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Wells Fargo & Co set a $120.00 target price on JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Wednesday, December 20th. Buckingham Research raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a research report on Thursday, December 21st. Royal Bank of Canada reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Friday, December 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 11th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $93.63.
JPMorgan Chase & Co. (NYSE:JPM) traded down $0.70 during trading on Friday, reaching $108.34. The company’s stock had a trading volume of 14,150,000 shares, compared to its average volume of 14,100,000. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $375,910.00, a price-to-earnings ratio of 15.54, a P/E/G ratio of 2.04 and a beta of 1.22. JPMorgan Chase & Co. has a one year low of $81.64 and a one year high of $110.03.
JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.09. The company had revenue of $25.33 billion during the quarter, compared to analyst estimates of $24.91 billion. JPMorgan Chase & Co. had a return on equity of 11.68% and a net margin of 24.08%. JPMorgan Chase & Co.’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.58 earnings per share. research analysts anticipate that JPMorgan Chase & Co. will post 6.91 earnings per share for the current year.
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,099 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $101.96, for a total value of $214,014.04. Following the sale, the general counsel now directly owns 15,279 shares of the company’s stock, valued at $1,557,846.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.88% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of JPM. Segantii Capital Management Ltd purchased a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $2,196,000. SRS Capital Advisors Inc. lifted its stake in JPMorgan Chase & Co. by 27.1% in the 1st quarter. SRS Capital Advisors Inc. now owns 4,853 shares of the financial services provider’s stock valued at $426,000 after buying an additional 1,035 shares in the last quarter. Stockman Wealth Management Inc. lifted its stake in JPMorgan Chase & Co. by 8.0% in the 1st quarter. Stockman Wealth Management Inc. now owns 39,074 shares of the financial services provider’s stock valued at $3,432,000 after buying an additional 2,904 shares in the last quarter. Jacobson & Schmitt Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $244,000. Finally, State Street Corp lifted its stake in JPMorgan Chase & Co. by 0.8% in the 1st quarter. State Street Corp now owns 170,534,760 shares of the financial services provider’s stock valued at $14,979,775,000 after buying an additional 1,357,194 shares in the last quarter. 73.75% of the stock is currently owned by institutional investors and hedge funds.
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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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