JPMorgan Chase & Co. (NYSE:JPM) Given New $355.00 Price Target at Argus

JPMorgan Chase & Co. (NYSE:JPM) had its target price hoisted by research analysts at Argus from $340.00 to $355.00 in a report released on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the financial services provider’s stock. Argus’ target price would indicate a potential upside of 14.77% from the stock’s previous close.

JPM has been the topic of several other reports. Piper Sandler reiterated an “overweight” rating and issued a $325.00 price objective (down from $345.00) on shares of JPMorgan Chase & Co. in a report on Monday, March 30th. Truist Financial decreased their target price on JPMorgan Chase & Co. from $334.00 to $330.00 in a research report on Wednesday, February 25th. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Royal Bank Of Canada reissued an “outperform” rating and issued a $330.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, January 14th. Finally, Barclays restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Tuesday. Fifteen research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $335.28.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $309.31 on Wednesday. The company’s fifty day moving average price is $299.12 and its 200 day moving average price is $306.78. JPMorgan Chase & Co. has a 1 year low of $226.34 and a 1 year high of $337.25. The stock has a market capitalization of $829.64 billion, a P/E ratio of 15.63, a P/E/G ratio of 1.56 and a beta of 1.05. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.85 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.35% and a return on equity of 17.16%. The company had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. During the same quarter in the previous year, the firm earned $5.07 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 2,893 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $312.79, for a total value of $904,901.47. Following the completion of the sale, the chief financial officer directly owned 26,696 shares in the company, valued at $8,350,241.84. This represents a 9.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 3,404 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $312.80, for a total value of $1,064,771.20. Following the completion of the sale, the general counsel directly owned 65,353 shares of the company’s stock, valued at $20,442,418.40. This trade represents a 4.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 72,029 shares of company stock valued at $22,195,693 in the last three months. Company insiders own 0.47% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently made changes to their positions in JPM. J. Derek Lewis & Associates Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $1,151,000. Purpose Unlimited Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $4,251,000. Stance Capital LLC lifted its holdings in shares of JPMorgan Chase & Co. by 62.9% in the 4th quarter. Stance Capital LLC now owns 7,315 shares of the financial services provider’s stock worth $2,357,000 after acquiring an additional 2,824 shares during the last quarter. Cornerstone Planning LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $4,581,000. Finally, Forty three Eighteen Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $6,085,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: Q1 beat — JPM reported $16.5B net income, $5.94 EPS and ~$50.5B revenue, topping estimates; markets and investment?banking fees were major drivers. Read More.
• Positive Sentiment: Record trading haul — Markets/trading revenue set records, lifting overall results and showing JPM’s franchise strength in volatile markets. Read More.
• Positive Sentiment: Capital returns and AUM growth — The bank raised its dividend ~7% and reported strong growth in assets under management and client assets, supporting shareholder yield and fee businesses. Read More. Read More.
• Neutral Sentiment: Strategic moves — Management highlighted blockchain/tokenization initiatives and product development (Onyx/JPM Coin) that can support future fee opportunities but are longer?term impacts. Read More.
• Neutral Sentiment: Macro/context — Geopolitical-driven volatility boosted trading results this quarter; that same geopolitical uncertainty remains a swing factor for future earnings. Read More.
• Negative Sentiment: Trimmed NII outlook — Management trimmed full?year net?interest?income guidance, which reduces forward earnings visibility and was a primary reason the stock pulled back after the report. Read More.
• Negative Sentiment: Management warnings & risk commentary — CEO Jamie Dimon flagged a “complex set of risks” (geopolitics, energy, deficits, elevated asset prices), which adds cautious tone to guidance. Read More.
• Negative Sentiment: Insider selling and profit?taking — Publicized insider sales and analysts noting profit?taking after a run to near highs amplify near?term downward pressure. Read More.

About JPMorgan Chase & Co.

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.