Morgan Stanley Downgrades JPMorgan Chase & Co. (NYSE:JPM) to Equal Weight

JPMorgan Chase & Co. (NYSE:JPM) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday, MarketBeat reports. They currently have a $224.00 target price on the financial services provider’s stock, up from their prior target price of $220.00. Morgan Stanley’s price objective points to a potential upside of 8.19% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Citigroup boosted their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Jefferies Financial Group raised their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Finally, Barclays lifted their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $207.04 on Monday. The stock has a market capitalization of $594.55 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 2.39 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The firm has a 50 day moving average of $211.42 and a 200-day moving average of $202.85.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter in the previous year, the company posted $4.37 EPS. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Retirement Group LLC increased its stake in shares of JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares during the last quarter. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. during the second quarter worth approximately $32,000. Richardson Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $34,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter worth $34,000. Finally, Davidson Capital Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $37,000. Institutional investors own 71.55% 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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.