Zacks Investment Research Lowers JPMorgan Chase & Co. (JPM) to Hold

Zacks Investment Research downgraded shares of JPMorgan Chase & Co. (NYSE:JPM) from a buy rating to a hold rating in a research report released on Tuesday.

According to Zacks, “JPMorgan's shares have outperformed the industry over the past six months. This price performance is backed by impressive earnings surprise history, with the company surpassing the Zacks Consensus Estimate in each of the trailing four quarters. The bank’s efforts to manage expenses, higher interest rates and rising loan demand will likely continue to benefit its financials. Also, lower tax rates will aid profitability in the quarters ahead. However, fee income growth challenges (mainly due to a slowdown in trading activities and dismal capital markets performance) remains a major concern for the company. Also, litigation hassles make us apprehensive.”

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Other research analysts also recently issued reports about the company. Nomura set a $115.00 price objective on JPMorgan Chase & Co. and gave the company a neutral rating in a research note on Friday, January 12th. Buckingham Research upgraded JPMorgan Chase & Co. from a neutral rating to a buy rating in a research note on Thursday, December 21st. Vetr upgraded JPMorgan Chase & Co. from a strong sell rating to a sell rating and set a $102.07 price target for the company in a research note on Tuesday, February 6th. Argus upped their price target on JPMorgan Chase & Co. from $109.00 to $125.00 and gave the stock a buy rating in a research note on Friday, January 12th. Finally, Keefe, Bruyette & Woods upgraded JPMorgan Chase & Co. from a market perform rating to an outperform rating and set a $127.00 price target for the company in a research note on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $112.14.

JPMorgan Chase & Co. (NYSE JPM) opened at $109.95 on Tuesday. The stock has a market capitalization of $393,782.97, a P/E ratio of 17.45, a P/E/G ratio of 1.93 and a beta of 1.18. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.01 and a current ratio of 1.01. JPMorgan Chase & Co. has a 52 week low of $81.64 and a 52 week high of $119.33.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.07. The company had revenue of $24.15 billion during the quarter, compared to the consensus estimate of $24.87 billion. JPMorgan Chase & Co. had a return on equity of 11.63% and a net margin of 21.46%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.71 EPS. research analysts predict that JPMorgan Chase & Co. will post 8.9 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 6th will be issued a dividend of $0.56 per share. The ex-dividend date is Thursday, April 5th. This represents a $2.24 annualized dividend and a dividend yield of 2.04%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 35.56%.

In other news, Director James S. Crown acquired 7,280 shares of the firm’s stock in a transaction dated Thursday, January 18th. The shares were acquired at an average cost of $113.37 per share, with a total value of $825,333.60. Following the acquisition, the director now directly owns 305,875 shares of the company’s stock, valued at $34,677,048.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ashley Bacon sold 16,434 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $112.22, for a total value of $1,844,223.48. Following the sale, the insider now directly owns 98,811 shares in the company, valued at $11,088,570.42. The disclosure for this sale can be found here. Insiders have sold a total of 152,047 shares of company stock worth $17,098,115 over the last ninety days. Insiders own 0.88% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Private Vista LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $102,000. Kohmann Bosshard Financial Services LLC purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at $102,000. Welch Investments LLC purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at $103,000. Financial Gravity Companies Inc. purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $104,000. Finally, Legacy Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at $106,000. 74.47% of the stock is currently owned by institutional investors and hedge funds.

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JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

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

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