Zacks Investment Research lowered shares of J P Morgan Chase & Co (NYSE:JPM) from a buy rating to a hold rating in a research report sent to investors on Thursday.

According to Zacks, “JPMorgan's shares have outperformed the industry over the last six months. The company’s second-quarter 2017 earnings handily outpaced the Zacks Consensus Estimate. Results were supported by higher interest rates, loan growth, a rise in investment banking fees and lower credit cost. The bank's efforts to control expenses through streamlining and branch consolidation are commendable. It should continue to benefit from the improved rate scenario, potential lesser regulations and rising loan demand. However, the company faces a persistent fee income growth challenge, which is expected to hinder overall top line growth to some extent. Also, litigation hassles continue to remain a near-term concern.”

Other equities analysts have also issued reports about the company. Vetr lowered J P Morgan Chase & Co from a strong-buy rating to a buy rating and set a $97.41 price target on the stock. in a research note on Monday, May 15th. UBS AG reissued a buy rating and issued a $101.00 price target on shares of J P Morgan Chase & Co in a research note on Monday, May 15th. Keefe, Bruyette & Woods reissued a hold rating and issued a $92.00 price target on shares of J P Morgan Chase & Co in a research note on Wednesday, June 7th. Vining Sparks raised J P Morgan Chase & Co to an outperform rating and set a $95.00 price target on the stock in a research note on Thursday, April 27th. Finally, Guggenheim raised J P Morgan Chase & Co from a neutral rating to a buy rating and boosted their price target for the company from $88.25 to $96.00 in a research note on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $85.39.

J P Morgan Chase & Co (NYSE JPM) traded up 0.9859% during mid-day trading on Thursday, reaching $92.1799. The company had a trading volume of 6,468,321 shares. The firm has a market capitalization of $324.38 billion, a P/E ratio of 13.5979 and a beta of 1.19. The firm’s 50-day moving average is $90.21 and its 200-day moving average is $87.95. J P Morgan Chase & Co has a one year low of $63.38 and a one year high of $94.51.

J P Morgan Chase & Co (NYSE:JPM) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts anticipate that J P Morgan Chase & Co will post $6.82 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, July 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.19%. J P Morgan Chase & Co’s dividend payout ratio is presently 29.59%.

In other news, insider Nicole Giles sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $91.29, for a total transaction of $91,290.00. Following the transaction, the insider now owns 3,783 shares of the company’s stock, valued at approximately $345,350.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ashley Bacon sold 6,514 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $87.21, for a total value of $568,085.94. Following the transaction, the insider now directly owns 47,384 shares in the company, valued at approximately $4,132,358.64. The disclosure for this sale can be found here. Insiders have sold a total of 25,110 shares of company stock worth $2,270,818 in the last ninety days. Insiders own 0.85% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jackson Grant Investment Advisers Inc. boosted its stake in shares of J P Morgan Chase & Co by 0.5% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 2,566 shares of the financial services provider’s stock worth $221,000 after buying an additional 14 shares during the period. IPG Investment Advisors LLC boosted its stake in shares of J P Morgan Chase & Co by 0.3% in the second quarter. IPG Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock worth $608,000 after buying an additional 17 shares during the period. Paradigm Financial Advisors LLC boosted its stake in shares of J P Morgan Chase & Co by 0.3% in the first quarter. Paradigm Financial Advisors LLC now owns 6,805 shares of the financial services provider’s stock worth $597,000 after buying an additional 21 shares during the period. Asset Management Group Inc. boosted its stake in shares of J P Morgan Chase & Co by 0.7% in the fourth quarter. Asset Management Group Inc. now owns 3,184 shares of the financial services provider’s stock worth $275,000 after buying an additional 22 shares during the period. Finally, BSW Wealth Partners boosted its stake in shares of J P Morgan Chase & Co by 0.5% in the first quarter. BSW Wealth Partners now owns 4,889 shares of the financial services provider’s stock worth $429,000 after buying an additional 26 shares during the period. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

J P Morgan 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.

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Analyst Recommendations for J P Morgan Chase & Co (NYSE:JPM)

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