JPMorgan Chase & Co. (JPM) Upgraded at Zacks Investment Research

JPMorgan Chase & Co. (NYSE:JPM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm presently has a $127.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.37% from the company’s current price.

According to Zacks, “JPMorgan's shares have outperformed the industry over the past three months. Also, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. Expansion into new markets, focus on strengthening the card business, higher interest rates and rising loan demand will benefit the bank’s financials. While dismal mortgage banking performance (as originations continue to decline) remains a major concern, lower tax rates and easing of stringent regulations are expected to offer some support. Also, the company's enhanced capital deployment plans reflect strong balance sheet.”

Several other research analysts also recently weighed in on the company. Royal Bank of Canada reiterated a “buy” rating and set a $120.00 price target on shares of JPMorgan Chase & Co. in a research note on Monday, July 16th. Goldman Sachs Group set a $128.00 price target on JPMorgan Chase & Co. and gave the stock a “neutral” rating in a research note on Monday, July 23rd. Societe Generale reiterated a “neutral” rating and set a $119.50 price target on shares of JPMorgan Chase & Co. in a research note on Monday, July 16th. Credit Suisse Group set a $130.00 price target on JPMorgan Chase & Co. and gave the stock a “buy” rating in a research note on Thursday, July 12th. Finally, Keefe, Bruyette & Woods reiterated a “$111.53” rating and set a $127.00 price target on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 18th. Ten analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $120.13.

Shares of JPMorgan Chase & Co. stock traded up $0.51 during trading hours on Friday, hitting $114.03. 141,744 shares of the company’s stock traded hands, compared to its average volume of 9,343,839. JPMorgan Chase & Co. has a 12-month low of $90.74 and a 12-month high of $119.33. The firm has a market cap of $388.09 billion, a PE ratio of 16.60, a P/E/G ratio of 1.85 and a beta of 1.16. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.01 and a quick ratio of 1.01.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 13th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.07. JPMorgan Chase & Co. had a return on equity of 13.18% and a net margin of 22.80%. The firm had revenue of $27.75 billion during the quarter, compared to analyst estimates of $27.62 billion. equities analysts anticipate that JPMorgan Chase & Co. will post 9.15 EPS for the current fiscal year.

In other JPMorgan Chase & Co. news, CEO Gordon Smith sold 30,725 shares of the firm’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $114.01, for a total value of $3,502,957.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Steigerwald Gordon & Koch Inc. raised its holdings in shares of JPMorgan Chase & Co. by 0.8% in the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 107,131 shares of the financial services provider’s stock valued at $11,155,000 after acquiring an additional 829 shares in the last quarter. SP Asset Management purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $209,000. HRT Financial LLC raised its holdings in shares of JPMorgan Chase & Co. by 157.3% in the 2nd quarter. HRT Financial LLC now owns 9,357 shares of the financial services provider’s stock valued at $974,000 after acquiring an additional 5,720 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $961,000. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 37.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 21,597 shares of the financial services provider’s stock valued at $2,250,000 after acquiring an additional 5,905 shares in the last quarter. Institutional investors and hedge funds own 70.72% of the company’s stock.

About JPMorgan Chase & Co.

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.

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