Keefe, Bruyette & Woods Downgrades JPMorgan Chase & Co. (NYSE:JPM) to Market Perform

JPMorgan Chase & Co. (NYSE:JPM) was downgraded by investment analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research note issued to investors on Monday, The Fly reports.

Other equities research analysts have also recently issued reports about the company. DZ Bank restated a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, August 21st. UBS Group lifted their target price on JPMorgan Chase & Co. from $131.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Buckingham Research lowered JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a research note on Monday, September 16th. They noted that the move was a valuation call. Wells Fargo & Co set a $125.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Societe Generale lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $123.48.

JPMorgan Chase & Co. stock traded down $0.63 during mid-day trading on Monday, reaching $134.41. 8,497,729 shares of the company were exchanged, compared to its average volume of 11,907,630. The business has a fifty day moving average of $128.52 and a 200 day moving average of $116.37. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $423.55 billion, a P/E ratio of 14.93, a PEG ratio of 1.90 and a beta of 1.23. JPMorgan Chase & Co. has a 12-month low of $91.11 and a 12-month high of $135.78.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.45 by $0.23. JPMorgan Chase & Co. had a return on equity of 14.63% and a net margin of 24.70%. The business had revenue of $29.34 billion for the quarter, compared to the consensus estimate of $28.36 billion. During the same period last year, the business posted $2.34 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. Sell-side analysts predict that JPMorgan Chase & Co. will post 10.17 EPS for the current year.

In related news, CEO Daniel E. Pinto sold 64,198 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $130.91, for a total transaction of $8,404,160.18. Following the transaction, the chief executive officer now directly owns 451,481 shares of the company’s stock, valued at approximately $59,103,377.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gordon Smith sold 83,289 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $119.98, for a total value of $9,993,014.22. Following the completion of the sale, the chief executive officer now owns 393,197 shares of the company’s stock, valued at $47,175,776.06. The disclosure for this sale can be found here. Insiders sold a total of 152,944 shares of company stock valued at $19,088,970 in the last three months. Insiders own 0.76% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Wharton Business Group LLC increased its position in shares of JPMorgan Chase & Co. by 0.3% in the 2nd quarter. Wharton Business Group LLC now owns 86,951 shares of the financial services provider’s stock valued at $9,721,000 after acquiring an additional 235 shares during the period. New England Investment & Retirement Group Inc. raised its holdings in shares of JPMorgan Chase & Co. by 27.2% during the second quarter. New England Investment & Retirement Group Inc. now owns 6,695 shares of the financial services provider’s stock worth $748,000 after purchasing an additional 1,433 shares during the last quarter. Carillon Tower Advisers Inc. lifted its position in JPMorgan Chase & Co. by 4.7% during the second quarter. Carillon Tower Advisers Inc. now owns 300,522 shares of the financial services provider’s stock valued at $33,598,000 after purchasing an additional 13,477 shares during the period. Oakwood Capital Management LLC CA lifted its position in JPMorgan Chase & Co. by 2.0% during the second quarter. Oakwood Capital Management LLC CA now owns 96,114 shares of the financial services provider’s stock valued at $10,746,000 after purchasing an additional 1,898 shares during the period. Finally, Occidental Asset Management LLC boosted its holdings in JPMorgan Chase & Co. by 137.2% in the second quarter. Occidental Asset Management LLC now owns 6,262 shares of the financial services provider’s stock valued at $700,000 after purchasing an additional 3,622 shares during the last quarter. 72.15% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Company Profile

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.

Recommended Story: How is a price target determined?

The Fly

Analyst Recommendations for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.