Traders Buy JPMorgan Chase & Co. (JPM) on Weakness

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Investors purchased shares of JPMorgan Chase & Co. (NYSE:JPM) on weakness during trading hours on Thursday. $336.56 million flowed into the stock on the tick-up and $151.52 million flowed out of the stock on the tick-down, for a money net flow of $185.04 million into the stock. Of all companies tracked, JPMorgan Chase & Co. had the highest net in-flow for the day. JPMorgan Chase & Co. traded down ($0.49) for the day and closed at $114.10

A number of equities analysts have recently commented on JPM shares. Keefe, Bruyette & Woods restated a “$111.53” rating and set a $127.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 18th. Royal Bank of Canada restated a “buy” rating and set a $120.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 16th. Credit Suisse Group set a $130.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research note on Thursday, July 12th. DZ Bank upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Finally, UBS Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $120.23.

The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $393.23 billion, a PE ratio of 16.54, a PEG ratio of 1.88 and a beta of 1.16.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 13th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.22 by $0.07. The company had revenue of $27.75 billion for the quarter, compared to analysts’ expectations of $27.62 billion. JPMorgan Chase & Co. had a net margin of 22.80% and a return on equity of 13.18%. equities analysts predict that JPMorgan Chase & Co. will post 9.15 EPS for the current year.

In other news, CEO Gordon Smith sold 30,725 shares of the company’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $114.01, for a total value of $3,502,957.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Keeler Thomas Management LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $112,000. Quad Cities Investment Group LLC bought a new position in shares of JPMorgan Chase & Co. during the second quarter worth approximately $124,000. Ballew Advisors Inc increased its holdings in shares of JPMorgan Chase & Co. by 104.2% during the second quarter. Ballew Advisors Inc now owns 1,213 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 619 shares during the period. Financial Gravity Wealth Inc. bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth approximately $150,000. Finally, Stelac Advisory Services LLC bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth approximately $162,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

About JPMorgan Chase & Co. (NYSE:JPM)

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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