Royal Bank of Canada Increases JPMorgan Chase & Co. (NYSE:JPM) Price Target to $230.00

JPMorgan Chase & Co. (NYSE:JPM) had its target price hoisted by equities research analysts at Royal Bank of Canada from $211.00 to $230.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 3.42% from the company’s current price.

Several other equities analysts have also commented on JPM. Oppenheimer upped their price target on shares of JPMorgan Chase & Co. from $221.00 to $234.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Citigroup upped their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Barclays lifted their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Finally, Daiwa Capital Markets lowered their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $222.39 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm’s 50-day moving average price is $212.76 and its two-hundred day moving average price is $204.04. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48. The stock has a market capitalization of $638.63 billion, a P/E ratio of 12.40, a P/E/G ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.33 EPS. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of JPM. Scarborough Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at $152,000. Gerber LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $844,000. Fisher Asset Management LLC lifted its stake in JPMorgan Chase & Co. by 4.0% during the fourth quarter. Fisher Asset Management LLC now owns 11,836,898 shares of the financial services provider’s stock valued at $2,013,457,000 after buying an additional 450,098 shares in the last quarter. Alamar Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $218,000. Finally, Willner & Heller LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $895,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.