JPMorgan Chase & Co. (NYSE:JPM) Downgraded by Zacks Research to Hold

Key Points

• JPMorgan Chase & Co. has been downgraded from a "strong-buy" rating to a "hold" rating by Zacks Research.
• The company's recent earnings report showed an EPS of $4.96, surpassing analysts' expectations, despite a year-over-year revenue decline of 10.5%.
• Analyst ratings for JPMorgan Chase & Co. are mixed, with one "Strong Buy," thirteen "Buy," six "Hold," and three "Sell" ratings, leading to an average target price of $291.67.

JPMorgan Chase & Co. (NYSE:JPM) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Royal Bank Of Canada set a $305.00 price objective on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, June 30th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Finally, Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. One investment 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 MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and an average target price of $291.67.

JPMorgan Chase & Co. Trading Up 1.6%

JPM opened at $297.70 on Monday. The stock's fifty day moving average is $293.36 and its two-hundred day moving average is $266.44. The company has a market capitalization of $818.60 billion, a P/E ratio of 15.27, a PEG ratio of 1.95 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $200.61 and a 52 week high of $305.15. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted 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 the consensus estimate 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 revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $6.12 EPS. Analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction 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. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.47% of the company's stock.

Institutional Trading of JPMorgan Chase & Co.

Large investors have recently made changes to their positions in the business. Florida Financial Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after acquiring an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $471,000. Crown Wealth Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after acquiring an additional 222 shares during the last quarter. Mosaic Financial Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.8% in the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock valued at $2,280,000 after acquiring an additional 78 shares during the last quarter. Finally, Morse Asset Management Inc boosted its holdings in shares of JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after acquiring an additional 420 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

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.

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