JPMorgan Chase (JPM) Downgraded by Vetr to Buy

Vetr cut shares of JPMorgan Chase (NYSE:JPM) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning. They currently have $123.29 price objective on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. Buckingham Research upgraded shares of JPMorgan Chase from a neutral rating to a buy rating in a research report on Thursday, December 21st. Nomura set a $115.00 price objective on shares of JPMorgan Chase and gave the stock a neutral rating in a research report on Friday, January 12th. Zacks Investment Research lowered shares of JPMorgan Chase from a buy rating to a hold rating in a research report on Tuesday, March 20th. Argus boosted their price objective on shares of JPMorgan Chase from $109.00 to $125.00 and gave the stock a buy rating in a research report on Friday, January 12th. Finally, Keefe, Bruyette & Woods raised shares of JPMorgan Chase from a market perform rating to an outperform rating and set a $127.00 target price for the company in a research note on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $112.58.

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Shares of JPMorgan Chase stock traded down $2.31 during trading on Thursday, reaching $109.57. The company’s stock had a trading volume of 8,672,447 shares, compared to its average volume of 15,883,100. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $380,913.13, a price-to-earnings ratio of 15.98, a PEG ratio of 1.87 and a beta of 1.24. JPMorgan Chase has a fifty-two week low of $81.64 and a fifty-two week high of $119.33.

JPMorgan Chase (NYSE:JPM) last issued its earnings results on Friday, January 12th. The financial services provider reported $1.76 EPS for the quarter, topping the consensus estimate of $1.69 by $0.07. The company had revenue of $24.15 billion for the quarter, compared to analyst estimates of $24.87 billion. JPMorgan Chase had a net margin of 21.46% and a return on equity of 11.63%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.71 EPS. analysts anticipate that JPMorgan Chase will post 8.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, April 6th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, April 5th. JPMorgan Chase’s dividend payout ratio is presently 32.61%.

In other JPMorgan Chase news, CEO Mary E. Erdoes sold 65,101 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $112.25, for a total value of $7,307,587.25. Following the sale, the chief executive officer now directly owns 479,882 shares of the company’s stock, valued at $53,866,754.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Stacey Friedman sold 17,729 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $112.33, for a total value of $1,991,498.57. Following the completion of the sale, the general counsel now directly owns 21,260 shares in the company, valued at $2,388,135.80. The disclosure for this sale can be found here. Insiders sold 152,047 shares of company stock worth $17,098,115 over the last ninety days. 0.88% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of JPM. Kohmann Bosshard Financial Services LLC acquired a new position in shares of JPMorgan Chase during the third quarter valued at $102,000. Welch Investments LLC acquired a new position in shares of JPMorgan Chase during the third quarter valued at $103,000. Financial Gravity Companies Inc. acquired a new position in shares of JPMorgan Chase during the fourth quarter valued at $104,000. Legacy Advisors LLC acquired a new position in shares of JPMorgan Chase during the third quarter valued at $106,000. Finally, Keeler Thomas Management LLC bought a new position in JPMorgan Chase during the fourth quarter valued at about $112,000. 74.50% of the stock is currently owned by hedge funds and other institutional investors.

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About JPMorgan Chase

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for JPMorgan Chase (NYSE:JPM)

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