JPMorgan Chase & Co. (NYSE:JPM) Price Target Raised to $338.00

Key Points

• JPMorgan Chase & Co. had its price target raised by Morgan Stanley from $336.00 to $338.00, indicating a potential upside of 11.88% from the previous close.
• After a recent earnings report, JPMorgan reported $5.07 EPS, exceeding analysts' expectations, with quarterly revenue up 8.8% year-over-year.
• The stock currently has a consensus rating of "Hold" among analysts, with a consensus target price of $319.40.

JPMorgan Chase & Co. (NYSE:JPM) had its price target raised by investment analysts at Morgan Stanley from $336.00 to $338.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price target suggests a potential upside of 11.88% from the company's previous close.

Several other research analysts have also recently issued reports on JPM. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Barclays set a $342.00 price objective on shares of JPMorgan Chase & Co. and gave the stock an "overweight" rating in a report on Wednesday. UBS Group lifted their price objective on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a "buy" rating in a report on Tuesday, October 7th. TD Cowen boosted their price target on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a "buy" rating in a report on Friday, October 3rd. Finally, HSBC restated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Fifteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $319.40.

JPMorgan Chase & Co. Stock Down 1.9%

Shares of NYSE JPM opened at $302.11 on Wednesday. The stock has a market capitalization of $830.72 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.99 and a beta of 1.13. The company has a 50-day moving average price of $302.11 and a 200-day moving average price of $277.61. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.83 by $0.24. The business had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.37 EPS. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insider Buying and Selling

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 shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently modified their holdings of the company. Peterson Wealth Advisors LLC lifted its stake in JPMorgan Chase & Co. by 1.6% in the 3rd quarter. Peterson Wealth Advisors LLC now owns 2,063 shares of the financial services provider's stock worth $635,000 after purchasing an additional 33 shares in the last quarter. TradeWell Securities LLC. raised its position in shares of JPMorgan Chase & Co. by 0.3% in the third quarter. TradeWell Securities LLC. now owns 12,333 shares of the financial services provider's stock worth $3,832,000 after buying an additional 34 shares in the last quarter. Sharkey Howes & Javer raised its position in shares of JPMorgan Chase & Co. by 1.9% in the third quarter. Sharkey Howes & Javer now owns 1,785 shares of the financial services provider's stock worth $563,000 after buying an additional 34 shares in the last quarter. JFS Wealth Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 0.4% in the second quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider's stock worth $2,290,000 after buying an additional 35 shares in the last quarter. Finally, Cottonwood Capital Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 0.9% in the second quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider's stock worth $1,112,000 after buying an additional 35 shares in 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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