JPMorgan Chase & Co. (NYSE:JPM) Lowered to “Hold” Rating by Zacks Research

Zacks Research cut shares of JPMorgan Chase & Co. (NYSE:JPM) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

JPM has been the topic of a number of other research reports. Truist Financial upped their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a “hold” rating in a report on Wednesday, July 9th. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Monday, July 7th. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the stock an “outperform” rating in a report on Monday, June 30th. Finally, Hsbc Global Res cut JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $291.67.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $300.71 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The business’s 50 day moving average is $293.54 and its two-hundred day moving average is $266.68. JPMorgan Chase & Co. has a 12-month low of $201.83 and a 12-month high of $305.15. The stock has a market capitalization of $826.89 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.98 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.12 EPS. Research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harbor Asset Planning Inc. purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $30,000. Mizuho Securities Co. Ltd. lifted its stake in shares of JPMorgan Chase & Co. by 450.0% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 90 shares during the period. Finally, Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $33,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

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.