J P Morgan Chase & Co (JPM) Downgraded by Vetr Inc. to Hold

J P Morgan Chase & Co (NYSE:JPM) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a research report issued on Tuesday. They currently have a $93.14 price target on the financial services provider’s stock. Vetr‘s target price would suggest a potential upside of 3.73% from the company’s previous close.

Other analysts also recently issued reports about the company. BidaskClub upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Deutsche Bank AG reiterated a “buy” rating on shares of J P Morgan Chase & Co in a research note on Monday, July 3rd. UBS AG reiterated a “buy” rating and issued a $101.00 price target on shares of J P Morgan Chase & Co in a research note on Monday, May 15th. Bank of America Corporation reiterated a “buy” rating and issued a $99.00 price target on shares of J P Morgan Chase & Co in a research note on Monday, July 17th. Finally, Zacks Investment Research upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research note on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have assigned a buy rating to the stock. J P Morgan Chase & Co presently has an average rating of “Hold” and an average target price of $85.59.

Shares of J P Morgan Chase & Co (NYSE:JPM) opened at 89.79 on Tuesday. The stock has a 50 day moving average price of $91.67 and a 200 day moving average price of $88.99. J P Morgan Chase & Co has a 12-month low of $65.11 and a 12-month high of $95.22. The stock has a market capitalization of $315.93 billion, a P/E ratio of 13.25 and a beta of 1.19.

J P Morgan Chase & Co (NYSE:JPM) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.23. The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm earned $1.55 earnings per share. On average, equities analysts anticipate that J P Morgan Chase & Co will post $6.80 earnings per share for the current fiscal year.

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In related news, General Counsel Stacey Friedman sold 9,968 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $90.55, for a total transaction of $902,602.40. Following the sale, the general counsel now owns 10,527 shares of the company’s stock, valued at $953,219.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Marianne Lake sold 17,596 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $91.58, for a total value of $1,611,441.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,564 shares of company stock worth $2,605,334. 0.88% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of J P Morgan Chase & Co by 1.5% in the second quarter. Vanguard Group Inc. now owns 249,887,622 shares of the financial services provider’s stock valued at $22,839,729,000 after buying an additional 3,717,683 shares in the last quarter. State Street Corp increased its holdings in shares of J P Morgan Chase & Co by 0.8% in the first quarter. State Street Corp now owns 170,534,760 shares of the financial services provider’s stock valued at $14,979,775,000 after buying an additional 1,357,194 shares in the last quarter. Northern Trust Corp increased its holdings in shares of J P Morgan Chase & Co by 1.8% in the second quarter. Northern Trust Corp now owns 48,965,734 shares of the financial services provider’s stock valued at $4,475,468,000 after buying an additional 847,463 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of J P Morgan Chase & Co by 2.5% in the second quarter. Capital Research Global Investors now owns 31,714,763 shares of the financial services provider’s stock valued at $2,898,729,000 after buying an additional 765,082 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of J P Morgan Chase & Co by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 28,683,523 shares of the financial services provider’s stock valued at $2,621,677,000 after buying an additional 176,306 shares in the last quarter. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

J P Morgan 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.

Analyst Recommendations for J P Morgan Chase & Co (NYSE:JPM)

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