JPMorgan Chase & Co. (NYSE:JPM) Raised to “Outperform” at Wolfe Research

JPMorgan Chase & Co. (NYSE:JPM) was upgraded by Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage presently has a $269.00 price objective on the financial services provider’s stock. Wolfe Research’s price objective would suggest a potential upside of 10.57% from the company’s previous close.

Several other brokerages have also recently weighed in on JPM. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Daiwa Capital Markets decreased their target price 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. Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Barclays raised their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $239.88.

JPMorgan Chase & Co. Stock Up 1.4 %

Shares of JPMorgan Chase & Co. stock opened at $243.28 on Friday. The company has a market capitalization of $684.92 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. 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 business has a 50-day moving average of $239.74 and a two-hundred day moving average of $220.99. JPMorgan Chase & Co. has a 1 year low of $164.30 and a 1 year high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $4.33 EPS. As a group, equities analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Hedge funds have recently added to or reduced their stakes in the business. Financial Avengers Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 5.2% during the 3rd quarter. Financial Avengers Inc. now owns 868 shares of the financial services provider’s stock worth $183,000 after buying an additional 43 shares during the period. One Charles Private Wealth Services LLC boosted its stake in JPMorgan Chase & Co. by 0.4% in the 3rd quarter. One Charles Private Wealth Services LLC now owns 12,179 shares of the financial services provider’s stock valued at $2,568,000 after purchasing an additional 44 shares during the period. Henrickson Nauta Wealth Advisors Inc. grew its holdings in JPMorgan Chase & Co. by 1.3% in the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after buying an additional 45 shares in the last quarter. Sunburst Financial Group LLC increased its position in JPMorgan Chase & Co. by 0.8% during the 3rd quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock worth $1,201,000 after buying an additional 45 shares during the period. Finally, West Wealth Group LLC increased its position in JPMorgan Chase & Co. by 3.6% during the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock worth $280,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds 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.