Buckingham Research lowered shares of JPMorgan Chase & Co. (NYSE:JPM) from a buy rating to a neutral rating in a research note published on Monday morning, 24/7 WallStreet reports. They currently have $122.00 target price on the financial services provider’s stock. The analysts noted that the move was a valuation call.
A number of other analysts also recently issued reports on the stock. Morgan Stanley set a $122.00 price objective on shares of JPMorgan Chase & Co. and gave the company a buy rating in a report on Friday, August 9th. Goldman Sachs Group reissued a neutral rating and issued a $117.00 price objective on shares of JPMorgan Chase & Co. in a report on Monday, July 22nd. Deutsche Bank reissued a neutral rating on shares of JPMorgan Chase & Co. in a report on Friday, June 28th. ValuEngine raised shares of JPMorgan Chase & Co. from a sell rating to a hold rating in a report on Wednesday, September 4th. Finally, DZ Bank reissued a hold rating on shares of JPMorgan Chase & Co. in a report on Wednesday, August 21st. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. JPMorgan Chase & Co. presently has an average rating of Hold and a consensus price target of $121.94.
NYSE JPM opened at $119.76 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $384.43 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.74 and a beta of 1.19. JPMorgan Chase & Co. has a 12-month low of $91.11 and a 12-month high of $120.40. The firm has a 50-day moving average price of $111.08 and a two-hundred day moving average price of $110.06.
JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.32. The firm had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.52 billion. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 EPS. Equities analysts expect that JPMorgan Chase & Co. will post 9.88 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $0.90 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a dividend yield of 3.01%. JPMorgan Chase & Co.’s payout ratio is presently 35.56%.
In other news, Director Mellody L. Hobson bought 18,200 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $109.91 per share, for a total transaction of $2,000,362.00. Following the transaction, the director now owns 7,804 shares of the company’s stock, valued at $857,737.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lori A. Beer sold 13,341 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $114.28, for a total transaction of $1,524,609.48. Following the completion of the transaction, the insider now owns 10,130 shares of the company’s stock, valued at $1,157,656.40. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of JPM. Nuveen Asset Management LLC raised its position in shares of JPMorgan Chase & Co. by 2,432.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 23,689,599 shares of the financial services provider’s stock valued at $2,648,497,000 after buying an additional 22,754,332 shares in the last quarter. Invesco Ltd. raised its position in shares of JPMorgan Chase & Co. by 39.8% in the 2nd quarter. Invesco Ltd. now owns 23,689,706 shares of the financial services provider’s stock valued at $2,648,509,000 after buying an additional 6,745,215 shares in the last quarter. Thoroughbred Financial Services LLC raised its position in shares of JPMorgan Chase & Co. by 11,601.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 4,973,970 shares of the financial services provider’s stock valued at $497,397,000 after buying an additional 4,931,461 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $331,575,000. Finally, Amundi Pioneer Asset Management Inc. increased its position in JPMorgan Chase & Co. by 43.3% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 7,563,083 shares of the financial services provider’s stock worth $845,552,000 after purchasing an additional 2,283,575 shares in the last quarter. Institutional investors own 71.89% of the company’s stock.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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