Piper Sandler Forecasts Strong Price Appreciation for JPMorgan Chase & Co. (NYSE:JPM) Stock

JPMorgan Chase & Co. (NYSE:JPM) had its target price boosted by analysts at Piper Sandler from $240.00 to $275.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 12.97% from the company’s previous close.

JPM has been the topic of a number of other reports. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a report on Thursday, November 7th. Daiwa Capital Markets lowered their price target on 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. Royal Bank of Canada increased their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Citigroup raised their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $234.81.

JPMorgan Chase & Co. Stock Down 0.6 %

Shares of NYSE JPM opened at $243.42 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a market cap of $685.31 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 3.57 and a beta of 1.11. JPMorgan Chase & Co. has a 12 month low of $156.00 and a 12 month high of $254.31. The stock has a 50-day moving average price of $229.23 and a two-hundred day moving average price of $214.57.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in JPM. Advocate Group LLC grew its holdings in JPMorgan Chase & Co. by 2.9% during the 2nd quarter. Advocate Group LLC now owns 44,409 shares of the financial services provider’s stock valued at $8,982,000 after buying an additional 1,253 shares in the last quarter. Legacy Financial Strategies LLC grew its holdings in JPMorgan Chase & Co. by 16.0% during the 2nd quarter. Legacy Financial Strategies LLC now owns 3,801 shares of the financial services provider’s stock valued at $793,000 after buying an additional 525 shares in the last quarter. Indiana Trust & Investment Management CO grew its holdings in JPMorgan Chase & Co. by 1.7% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 27,003 shares of the financial services provider’s stock valued at $5,462,000 after buying an additional 459 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in shares of JPMorgan Chase & Co. by 26.0% in the 2nd quarter. Fortitude Family Office LLC now owns 7,408 shares of the financial services provider’s stock worth $1,498,000 after purchasing an additional 1,527 shares during the period. Finally, Csenge Advisory Group boosted its holdings in shares of JPMorgan Chase & Co. by 5.2% in the 2nd quarter. Csenge Advisory Group now owns 33,891 shares of the financial services provider’s stock worth $6,855,000 after purchasing an additional 1,682 shares during the period. Institutional investors own 71.55% 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 (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.