Zacks Investment Research cut shares of JPMorgan Chase & Co. (NYSE:JPM) from a hold rating to a sell rating in a report released on Tuesday morning.

According to Zacks, “JPMorgan's energy exposure will remain an overhang in the near-term, with management expecting incremental reserve build this year. Moreover, top line growth is likely to remain challenged in the near-term owing to continued pressure on fee income. Also, with the enforcement of new banking regulations, additional pressure on fee income is expected in the near term. However, the company is expected to witness a rise in interest income driven by solid loan growth. Further, synergies from improving retail banking performance and cost-containment efforts will help the company improve its profitability.”

Other research analysts have also issued reports about the company. Vetr raised JPMorgan Chase & Co. from a strong sell rating to a sell rating and set a $57.51 target price on the stock in a report on Tuesday, July 5th. Berenberg Bank assumed coverage on JPMorgan Chase & Co. in a report on Wednesday, July 13th. They set a sell rating on the stock. KeyCorp reaffirmed a buy rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 12th. Citigroup Inc. lowered JPMorgan Chase & Co. from a buy rating to a neutral rating and set a $65.00 target price on the stock. in a report on Monday, August 8th. They noted that the move was a valuation call. Finally, Deutsche Bank AG reaffirmed a buy rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 15th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. JPMorgan Chase & Co. currently has a consensus rating of Buy and a consensus target price of $71.34.

JPMorgan Chase & Co. (NYSE:JPM) opened at 67.39 on Tuesday. The firm has a market cap of $243.38 billion, a P/E ratio of 11.42 and a beta of 1.65. JPMorgan Chase & Co. has a 1-year low of $52.50 and a 1-year high of $69.03. The stock’s 50 day moving average is $66.35 and its 200-day moving average is $63.16.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Thursday, July 14th. The financial services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.12. The company had revenue of $24.40 billion for the quarter, compared to analyst estimates of $23.84 billion. JPMorgan Chase & Co. had a return on equity of 10.20% and a net margin of 24.47%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $1.54 earnings per share. Analysts forecast that JPMorgan Chase & Co. will post $5.65 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, October 6th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Tuesday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 32.54%.

In other news, insider Ashley Bacon sold 15,521 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $63.97, for a total transaction of $992,878.37. Following the sale, the insider now owns 14,938 shares of the company’s stock, valued at approximately $955,583.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Matthew E. Zames sold 3,991 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $63.91, for a total value of $255,064.81. Following the sale, the chief operating officer now directly owns 282,287 shares in the company, valued at approximately $18,040,962.17. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

Several hedge funds have recently made changes to their positions in JPM. DnB Asset Management AS raised its stake in shares of JPMorgan Chase & Co. by 55.8% in the first quarter. DnB Asset Management AS now owns 411,424 shares of the financial services provider’s stock valued at $24,365,000 after buying an additional 147,400 shares in the last quarter. PartnerRe Asset Management CORP raised its stake in shares of JPMorgan Chase & Co. by 0.4% in the first quarter. PartnerRe Asset Management CORP now owns 24,883 shares of the financial services provider’s stock valued at $1,474,000 after buying an additional 100 shares in the last quarter. Nexus Investment Management Inc. raised its stake in shares of JPMorgan Chase & Co. by 0.3% in the first quarter. Nexus Investment Management Inc. now owns 321,730 shares of the financial services provider’s stock valued at $19,053,000 after buying an additional 1,000 shares in the last quarter. First PREMIER Bank raised its stake in shares of JPMorgan Chase & Co. by 3.4% in the first quarter. First PREMIER Bank now owns 18,504 shares of the financial services provider’s stock valued at $1,096,000 after buying an additional 610 shares in the last quarter. Finally, Abner Herrman & Brock LLC raised its stake in shares of JPMorgan Chase & Co. by 94.0% in the first quarter. Abner Herrman & Brock LLC now owns 207,297 shares of the financial services provider’s stock valued at $12,276,000 after buying an additional 100,463 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

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 serves consumers and businesses through personal service at bank branches and through automatic teller machines, online, mobile and telephone banking.

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