Evercore ISI Has Lowered Expectations for JPMorgan Chase & Co. (NYSE:JPM) Stock Price

JPMorgan Chase & Co. (NYSE:JPM) had its price objective cut by Evercore ISI from $273.00 to $265.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price objective would suggest a potential upside of 7.68% from the company’s previous close.

Several other research firms also recently commented on JPM. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Piper Sandler lifted their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $215.00 to $220.00 in a report on Friday, March 7th. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Finally, Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $255.06.

JPMorgan Chase & Co. Stock Up 1.0 %

Shares of JPM stock opened at $246.10 on Tuesday. The stock’s fifty day moving average price is $256.54 and its 200 day moving average price is $241.36. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1-year low of $179.20 and a 1-year high of $280.25. The company has a market cap of $688.12 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.04 earnings per share. On average, research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the transaction, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. This trade represents a 2.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jennifer Piepszak sold 4,272 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $247.03, for a total transaction of $1,055,312.16. Following the completion of the sale, the chief operating officer now directly owns 50,197 shares of the company’s stock, valued at approximately $12,400,164.91. The trade was a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,848 shares of company stock worth $19,987,908 in the last ninety days. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its stake in JPMorgan Chase & Co. by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after purchasing an additional 182,648 shares during the last quarter. United Bank boosted its position in JPMorgan Chase & Co. by 2.5% during the third quarter. United Bank now owns 25,354 shares of the financial services provider’s stock worth $5,346,000 after acquiring an additional 614 shares during the last quarter. Edgestream Partners L.P. boosted its position in JPMorgan Chase & Co. by 62.7% during the third quarter. Edgestream Partners L.P. now owns 9,661 shares of the financial services provider’s stock worth $2,037,000 after acquiring an additional 3,723 shares during the last quarter. HighTower Advisors LLC grew its stake in JPMorgan Chase & Co. by 3.4% during the 3rd quarter. HighTower Advisors LLC now owns 2,734,317 shares of the financial services provider’s stock valued at $576,276,000 after acquiring an additional 90,038 shares in the last quarter. Finally, Harmony Asset Management LLC raised its holdings in JPMorgan Chase & Co. by 7.6% in the 3rd quarter. Harmony Asset Management LLC now owns 10,610 shares of the financial services provider’s stock valued at $2,237,000 after acquiring an additional 746 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.