JPMorgan Chase & Co. (NYSE:JPM) Downgraded to Hold Rating by Phillip Securities

Phillip Securities downgraded shares of JPMorgan Chase & Co. (NYSE:JPM) from a moderate buy rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

JPM has been the subject of a number of other research reports. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a "hold" rating for the company. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a report on Wednesday. UBS Group upped their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Stock Up 0.5%

Shares of NYSE JPM traded up $1.32 during midday trading on Wednesday, hitting $291.22. The company's stock had a trading volume of 12,206,726 shares, compared to its average volume of 9,516,542. The business's fifty day simple moving average is $274.67 and its two-hundred day simple moving average is $257.92. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $296.40. The firm has a market capitalization of $809.33 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 2.53 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company's quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $6.12 EPS. On average, equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.92%. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Insider Buying and Selling

In other news, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the transaction, the chief financial officer directly owned 18,017 shares of the company's stock, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,200 shares of company stock worth $18,060,015. Corporate insiders own 0.47% of the company's stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently modified their holdings of the stock. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $28,000. Redwood Park Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $29,000. University of Illinois Foundation acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Ryan Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $37,000. Finally, Curat Global LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $33,000. 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.