Bank of America Raises JPMorgan Chase & Co. (NYSE:JPM) Price Target to $280.00

JPMorgan Chase & Co. (NYSE:JPM) had its price target increased by investment analysts at Bank of America from $260.00 to $280.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s target price would suggest a potential upside of 14.37% from the stock’s previous close.

JPM has been the topic of a number of other reports. Truist Financial assumed coverage on JPMorgan Chase & Co. in a research report on Tuesday. They issued a “hold” rating and a $260.00 target price on the stock. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research note on Friday. Finally, Daiwa Capital Markets cut their price objective on 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 research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $245.83.

JPMorgan Chase & Co. Stock Up 1.7 %

Shares of JPM traded up $3.98 during mid-day trading on Tuesday, reaching $244.83. 4,538,286 shares of the stock traded hands, compared to its average volume of 8,229,136. The firm has a market cap of $689.28 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 3.54 and a beta of 1.11. The stock has a fifty day simple moving average of $240.05 and a 200 day simple moving average of $221.62. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 12-month low of $164.30 and a 12-month high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (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 firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.33 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in JPM. Mizuho Securities Co. Ltd. acquired a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. in the third quarter worth about $27,000. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at about $32,000. West Financial Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $37,000. Finally, New England Capital Financial Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 38.5% in the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 50 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.