JPMorgan Chase & Co. (NYSE:JPM) Stock Gets Price Target Bump from HSBC

JPMorgan Chase & Co. (NYSE:JPM) had its price target raised by investment analysts at HSBC from $369.00 to $377.00 in a report released on Monday, MarketBeat.com reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. HSBC’s price objective suggests a potential upside of 12.55% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Evercore reaffirmed an “outperform” rating and issued a $360.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Finally, Citigroup boosted their price objective on JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Sixteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $363.29.

JPMorgan Chase & Co. Trading Down 0.5%

Shares of JPM stock opened at $334.95 on Monday. The company has a market cap of $890.37 billion, a P/E ratio of 14.35, a PEG ratio of 1.38 and a beta of 0.98. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50. The stock has a 50 day simple moving average of $353.53 and a two-hundred day simple moving average of $326.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping analysts’ consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $50.72 billion. During the same period last year, the company posted $4.96 earnings per share. The business’s quarterly revenue was up 27.7% on a year-over-year basis. Research analysts forecast that JPMorgan Chase & Co. will post 24.29 earnings per share for the current year.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total value of $882,025.00. Following the completion of the transaction, the insider owned 71,047 shares of the company’s stock, valued at $25,066,092.07. The trade was a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently modified their holdings of JPM. State Street Corp boosted its stake in shares of JPMorgan Chase & Co. by 0.8% in the 2nd quarter. State Street Corp now owns 125,209,293 shares of the financial services provider’s stock valued at $40,984,758,000 after purchasing an additional 932,632 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of JPMorgan Chase & Co. by 6.1% during the second quarter. Bank of America Corp DE now owns 69,666,753 shares of the financial services provider’s stock valued at $22,804,018,000 after purchasing an additional 4,006,293 shares during the period. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $11,396,496,000. Bank of New York Mellon Corp grew its holdings in JPMorgan Chase & Co. by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,642,804 shares of the financial services provider’s stock worth $7,084,339,000 after acquiring an additional 540,362 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,833,413 shares of the financial services provider’s stock worth $6,164,741,000 after purchasing an additional 134,634 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s planned partnership with the Qatar Investment Authority could generate additional asset-management revenue, with JPMorgan Asset Management expected to manage approximately $15 billion of a proposed $20 billion mandate spanning public and private markets. JPMorgan QIA partnership article
• Positive Sentiment: JPMorgan ETFs attracted nearly $600 million of net inflows on September 28, a sign of continued demand for the bank’s investment products and a potential benefit to fee income. JPMorgan ETF inflows article
• Positive Sentiment: HSBC raised its JPMorgan price target to $377 from $369 while maintaining a Hold rating, suggesting analysts see valuation upside despite near-term caution. HSBC JPMorgan price target article
• Positive Sentiment: Analysts expect double-digit earnings growth in JPMorgan’s upcoming third quarter, while the bank has issued new debt and declared a preferred-stock dividend, highlighting continued access to funding and capital distributions. JPMorgan quarterly earnings preview

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.

The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across international markets.