Zacks Research Downgrades JPMorgan Chase & Co. (NYSE:JPM) to Hold

JPMorgan Chase & Co. (NYSE:JPM) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

Other equities analysts have also recently issued reports about the stock. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Weiss Ratings upgraded shares of JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, September 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $418.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Citigroup increased their price target on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Finally, Morgan Stanley reissued a “positive” rating and issued a $370.00 price objective on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 15th. Sixteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $359.96.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $354.10 on Monday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day moving average price of $352.81 and a 200 day moving average price of $323.02. The stock has a market capitalization of $941.27 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The firm had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. During the same quarter in the previous year, the firm earned $4.96 EPS. The business’s quarterly revenue was up 27.7% on a year-over-year basis. Analysts predict that JPMorgan Chase & Co. will post 24.3 earnings per share for the current fiscal year.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the transaction, the general counsel directly owned 40,961 shares of the company’s stock, valued at $13,547,031.53. This represents a 11.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the sale, the insider owned 71,047 shares of the company’s stock, valued at $25,066,092.07. This trade represents a 3.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 10,467 shares of company stock worth $3,593,651. 0.41% of the stock is owned by company insiders.

Institutional Trading of JPMorgan Chase & Co.

Several hedge funds have recently added to or reduced their stakes in JPM. Bullseye Investment Management LLC acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $390,000. Marathon Wealth Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.4% during the second quarter. Marathon Wealth Advisors LLC now owns 14,499 shares of the financial services provider’s stock worth $4,746,000 after buying an additional 203 shares in the last quarter. U S Wealth Group LLC. lifted its holdings in shares of JPMorgan Chase & Co. by 11.7% during the second quarter. U S Wealth Group LLC. now owns 11,454 shares of the financial services provider’s stock worth $3,749,000 after buying an additional 1,204 shares in the last quarter. Bouchey Financial Group Ltd. lifted its holdings in shares of JPMorgan Chase & Co. by 2.1% during the second quarter. Bouchey Financial Group Ltd. now owns 8,495 shares of the financial services provider’s stock worth $2,781,000 after buying an additional 172 shares in the last quarter. Finally, Core Capital Management & Research inc. bought a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $1,106,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan said third-quarter investment-banking fees and trading revenue are expected to show strong growth. Co-President Doug Petno also indicated that overall revenue is tracking ahead of expectations, helping reverse earlier weakness in the shares. JPMorgan expects investment banking, trading to shine in third quarter
• Positive Sentiment: The revenue outlook suggests continued momentum in JPMorgan’s capital-markets operations, including stronger deal activity and market-trading fees. The update provides a near-term catalyst following the bank’s recent earnings beat and robust year-over-year revenue growth. JPMorgan Chase stock rises after upbeat revenue outlook
• Neutral Sentiment: JPMorgan declared its regular quarterly dividend on common stock and dividends on Series CC preferred stock. The announcements reinforce shareholder distributions but appear routine rather than a new change in capital-return policy. JPMorganChase Declares Common Stock Dividend JPMorganChase Declares Preferred Stock Dividends
• Negative Sentiment: Investors continue to monitor signs that earnings growth may be slowing despite the benefit of higher interest rates. Jamie Dimon’s ongoing warnings about economic and structural pressures, along with elevated oil prices and potential effects on borrowers, remain longer-term risks for the bank. JPM Benefits from Higher Rates, but Earnings Growth Is Slowing

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.

The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.

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