Wells Fargo & Company Issues Positive Forecast for JPMorgan Chase & Co. (NYSE:JPM) Stock Price

JPMorgan Chase & Co. (NYSE:JPM) had its target price raised by equities researchers at Wells Fargo & Company from $350.00 to $360.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 9.07% from the stock’s previous close.

Several other research firms have also issued reports on JPM. Loop Capital set a $310.00 price target on shares of JPMorgan Chase & Co. in a research report on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft increased their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a report on Tuesday, September 30th. The Goldman Sachs Group decreased their price target on JPMorgan Chase & Co. from $355.00 to $354.00 and set a “buy” rating on the stock in a research note on Friday, December 5th. Morgan Stanley set a $331.00 price target on JPMorgan Chase & Co. in a research report on Tuesday, December 9th. Finally, Evercore ISI lifted their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus target price of $332.00.

Check Out Our Latest Stock Report on JPM

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $330.06 on Monday. The firm has a market capitalization of $898.52 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.60 and a beta of 1.07. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $330.86. The business has a fifty day simple moving average of $312.85 and a 200 day simple moving average of $302.72. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same quarter in the previous year, the firm posted $4.37 EPS. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 966 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the transaction, the insider owned 58,479 shares in the company, valued at $18,240,769.68. The trade was a 1.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Asset Planning Inc. acquired a new stake in JPMorgan Chase & Co. in the second quarter worth about $26,000. Mizuho Securities Co. Ltd. grew its position in shares of JPMorgan Chase & Co. by 450.0% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after buying an additional 90 shares during the period. Mountain Hill Investment Partners Corp. bought a new stake in shares of JPMorgan Chase & Co. during the third quarter worth approximately $32,000. Family Legacy Financial Solutions LLC lifted its holdings in JPMorgan Chase & Co. by 92.6% in the third quarter. Family Legacy Financial Solutions LLC now owns 104 shares of the financial services provider’s stock valued at $33,000 after buying an additional 50 shares during the period. Finally, Turning Point Benefit Group Inc. bought a new position in JPMorgan Chase & Co. in the third quarter valued at approximately $35,000. 71.55% of the stock is owned by institutional investors and hedge funds.

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About JPMorgan Chase & Co.

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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.

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

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