Zacks Investment Research Upgrades JPMorgan Chase & Co. (JPM) to “Buy”

JPMorgan Chase & Co. (NYSE:JPM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm currently has a $127.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.89% from the company’s current price.

According to Zacks, “JPMorgan's shares have outperformed the industry over the past three months. Also, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. Expansion into new markets, focus on strengthening the card business, higher interest rates and rising loan demand will benefit the bank’s financials. While dismal mortgage banking performance (as originations continue to decline) remains a major concern, lower tax rates and easing of stringent regulations are expected to offer some support. Also, the company's enhanced capital deployment plans reflect strong balance sheet.”

A number of other equities analysts have also recently commented on the company. UBS Group upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. BMO Capital Markets lifted their price target on JPMorgan Chase & Co. from $110.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, July 16th. DZ Bank upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Keefe, Bruyette & Woods reiterated a “$111.53” rating and set a $127.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, July 18th. Finally, Goldman Sachs Group reiterated a “neutral” rating and set a $124.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, July 16th. Ten investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $120.13.



JPMorgan Chase & Co. stock opened at $113.50 on Friday. JPMorgan Chase & Co. has a 52 week low of $90.76 and a 52 week high of $119.33. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $388.09 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 1.85 and a beta of 1.16.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 13th. The financial services provider reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.07. JPMorgan Chase & Co. had a return on equity of 13.18% and a net margin of 22.80%. The business had revenue of $27.75 billion during the quarter, compared to analysts’ expectations of $27.62 billion. sell-side 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 business’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $114.01, for a total transaction of $3,502,957.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.73% of the company’s stock.

Large investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of JPMorgan Chase & Co. by 0.7% in the first quarter. BlackRock Inc. now owns 228,054,279 shares of the financial services provider’s stock valued at $25,079,128,000 after buying an additional 1,627,006 shares in the last quarter. FMR LLC raised its position in shares of JPMorgan Chase & Co. by 4.5% in the second quarter. FMR LLC now owns 91,209,565 shares of the financial services provider’s stock valued at $9,504,036,000 after buying an additional 3,913,869 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of JPMorgan Chase & Co. by 1.4% in the fourth quarter. Bank of New York Mellon Corp now owns 38,499,692 shares of the financial services provider’s stock valued at $4,117,157,000 after buying an additional 530,709 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of JPMorgan Chase & Co. by 1.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 16,016,187 shares of the financial services provider’s stock valued at $1,712,771,000 after buying an additional 262,688 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of JPMorgan Chase & Co. by 2.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 13,009,422 shares of the financial services provider’s stock valued at $1,355,582,000 after buying an additional 270,508 shares in the last quarter. Institutional investors own 70.72% 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, 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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