Oppenheimer Downgrades JPMorgan Chase & Co. (NYSE:JPM) to Market Perform

JPMorgan Chase & Co. (NYSE:JPM) was downgraded by research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, MarketBeat reports.

Other equities analysts have also issued research reports about the stock. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a research report on Thursday, November 7th. Daiwa Capital Markets dropped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Evercore ISI increased their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Citigroup increased their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Stock Up 1.8 %

Shares of NYSE JPM opened at $245.17 on Wednesday. JPMorgan Chase & Co. has a 12-month low of $152.71 and a 12-month high of $248.00. The company has a market capitalization of $690.24 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 3.53 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The firm’s 50-day moving average is $222.25 and its two-hundred day moving average is $211.36.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the business posted $4.33 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. Equities analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in JPMorgan Chase & Co. by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock worth $12,258,346,000 after acquiring an additional 505,830 shares in the last quarter. Capital International Investors grew its holdings in JPMorgan Chase & Co. by 1.9% during the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after acquiring an additional 778,297 shares in the last quarter. Capital World Investors grew its holdings in JPMorgan Chase & Co. by 0.4% during the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after acquiring an additional 150,812 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of JPMorgan Chase & Co. by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after buying an additional 1,040,594 shares during the period. Finally, Capital Research Global Investors boosted its holdings in shares of JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after buying an additional 3,252,451 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

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.