JPMorgan Chase & Co. (NYSE:JPM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

JPMorgan Chase & Co. (NYSE:JPM) had its price target lifted by research analysts at Wells Fargo & Company from $240.00 to $270.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 11.60% from the company’s previous close.

Several other brokerages also recently weighed in on JPM. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a report on Thursday, November 7th. Oppenheimer increased their target price on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Barclays raised their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada increased their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Daiwa Capital Markets lowered their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $227.13.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $241.93 on Friday. The firm has a market capitalization of $681.12 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 3.50 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $148.46 and a 12 month high of $248.00. The firm has a 50 day moving average of $218.35 and a 200-day moving average of $209.33. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results 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 firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the firm posted $4.33 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Accredited Investors Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 4.9% during the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after buying an additional 667 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in JPMorgan Chase & Co. by 1.4% during the 1st quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider’s stock worth $17,439,000 after acquiring an additional 1,173 shares during the last quarter. Sunburst Financial Group LLC increased its stake in shares of JPMorgan Chase & Co. by 5.0% in the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock valued at $1,143,000 after buying an additional 268 shares during the period. Sageworth Trust Co raised its stake in JPMorgan Chase & Co. by 37.9% during the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after buying an additional 786 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of JPMorgan Chase & Co. by 16.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after buying an additional 95,461 shares in the last quarter. Institutional investors and hedge funds 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.