JPMorgan Chase & Co. (NYSE:JPM) Stock Price Expected to Rise, Bank of America Analyst Says

JPMorgan Chase & Co. (NYSE:JPM) had its target price hoisted by equities researchers at Bank of America from $260.00 to $280.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price objective would suggest a potential upside of 15.21% from the company’s current price.

JPM has been the topic of a number of other reports. Daiwa Capital Markets reduced their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Evercore ISI increased their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a report on Thursday, November 7th. Citigroup boosted their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $245.83.

JPMorgan Chase & Co. Trading Down 0.1 %

JPM opened at $243.03 on Tuesday. JPMorgan Chase & Co. has a 52 week low of $164.30 and a 52 week high of $254.31. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The business has a fifty day simple moving average of $240.83 and a 200-day simple moving average of $222.10. The firm has a market cap of $684.21 billion, a P/E ratio of 13.52, a P/E/G ratio of 3.54 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the prior year, the company earned $4.33 EPS. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

Institutional Trading of JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legacy Private Trust Co. grew its stake in shares of JPMorgan Chase & Co. by 3.2% in the 4th quarter. Legacy Private Trust Co. now owns 72,206 shares of the financial services provider’s stock valued at $17,308,000 after purchasing an additional 2,249 shares during the last quarter. First Hawaiian Bank lifted its stake in shares of JPMorgan Chase & Co. by 1.0% in the 4th quarter. First Hawaiian Bank now owns 47,964 shares of the financial services provider’s stock worth $11,497,000 after acquiring an additional 460 shares during the period. InvesTrust purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $10,578,000. Private Client Services LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.6% in the fourth quarter. Private Client Services LLC now owns 5,708 shares of the financial services provider’s stock valued at $1,368,000 after acquiring an additional 91 shares in the last quarter. Finally, Sterneck Capital Management LLC increased its stake in shares of JPMorgan Chase & Co. by 1.8% during the fourth quarter. Sterneck Capital Management LLC now owns 5,299 shares of the financial services provider’s stock worth $1,270,000 after acquiring an additional 93 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

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.