JPMorgan Chase & Co. (NYSE:JPM) Price Target Raised to $360.00

JPMorgan Chase & Co. (NYSE:JPM) had its price objective upped by research analysts at Wells Fargo & Company from $350.00 to $360.00 in a research note issued on Monday,MarketScreener reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 9.07% from the company’s current price.

A number of other research firms have also recently issued reports on JPM. Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, October 21st. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 15th. UBS Group increased their price objective on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Fifteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $332.00.

Read Our Latest Report on JPM

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $330.06 on Monday. The firm has a 50 day simple moving average of $312.85 and a 200 day simple moving average of $302.72. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $330.86. The stock has a market cap of $898.52 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.60 and a beta of 1.07. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same quarter in the prior year, the business earned $4.37 EPS. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the completion of the sale, the insider directly owned 58,479 shares in the company, valued at $18,240,769.68. This represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Institutional Trading of JPMorgan Chase & Co.

Several hedge funds have recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC grew its stake in shares of JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock worth $21,133,630,000 after acquiring an additional 72,885,260 shares during the last quarter. Norges Bank bought a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at $10,295,209,000. Laurel Wealth Advisors LLC grew its position in JPMorgan Chase & Co. by 28,813.7% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock worth $4,866,309,000 after purchasing an additional 16,727,530 shares during the last quarter. Danske Bank A S bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $696,885,000. Finally, Holocene Advisors LP increased its holdings in shares of JPMorgan Chase & Co. by 1,033.3% during the 3rd quarter. Holocene Advisors LP now owns 2,155,120 shares of the financial services provider’s stock worth $679,790,000 after purchasing an additional 1,964,958 shares during the period. Institutional investors own 71.55% of the company’s stock.

Key Stores Impacting JPMorgan Chase & Co.

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

About JPMorgan Chase & Co.

(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.

Read More

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

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.