JPMorgan Chase & Co. (NYSE:JPM) Stock Rating Upgraded by Zacks Research

JPMorgan Chase & Co. (NYSE:JPM) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Several other research firms have also weighed in on JPM. UBS Group lifted their price objective on shares of JPMorgan Chase & Co. from $375.00 to $384.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Evercore reiterated an “outperform” rating and issued a $360.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 6th. Morgan Stanley reissued a “positive” rating and set a $370.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday. Bank of America boosted their price target on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a “buy” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $354.92.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $341.60 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $351.24. The stock has a market cap of $915.33 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99. The stock’s 50-day moving average price is $319.11 and its two-hundred day moving average price is $310.31.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. The company had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company earned $5.07 EPS. On average, equities analysts predict that JPMorgan Chase & Co. will post 23.24 earnings per share for the current year.

Insider Activity

In other news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the sale, the general counsel owned 46,428 shares of the company’s stock, valued at $13,940,935.56. This represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the sale, the chief operating officer owned 85,082 shares in the company, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,876 shares of company stock worth $5,907,051 over the last quarter. 0.41% of the stock is currently owned by company insiders.

Institutional Trading of JPMorgan Chase & Co.

A number of institutional investors have recently modified their holdings of JPM. Processus Wealth & Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 0.3% during the second quarter. Processus Wealth & Capital Management LLC now owns 19,083 shares of the financial services provider’s stock worth $6,246,000 after buying an additional 55 shares during the period. First Community Trust NA lifted its stake in JPMorgan Chase & Co. by 2.1% in the 2nd quarter. First Community Trust NA now owns 3,816 shares of the financial services provider’s stock valued at $1,249,000 after acquiring an additional 77 shares in the last quarter. Ballast Inc. lifted its stake in JPMorgan Chase & Co. by 12.3% in the 2nd quarter. Ballast Inc. now owns 15,817 shares of the financial services provider’s stock valued at $5,177,000 after acquiring an additional 1,731 shares in the last quarter. Lee Kelleher & Klein Wealth Management acquired a new position in JPMorgan Chase & Co. during the 2nd quarter worth approximately $201,000. Finally, Regent Peak Wealth Advisors LLC boosted its position in JPMorgan Chase & Co. by 3.2% during the 2nd quarter. Regent Peak Wealth Advisors LLC now owns 7,828 shares of the financial services provider’s stock worth $2,562,000 after acquiring an additional 245 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. News Summary

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income — Up 41% — and CEO Jamie Dimon Said the Economy Is “Close to as Good as It Gets.”
• Positive Sentiment: Analysts have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
• Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
• Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
• Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.