JPMorgan Chase & Co. (NYSE:JPM) Reaches New 1-Year High - Should You Buy?

Key Points

• JPMorgan Chase & Co. reached a new 52-week high of $305.73, with a recent trading price of $303.82, indicating strong market performance despite a previous closing price of $300.54.
• Analyst ratings for JPMorgan vary, with one Strong Buy, thirteen Buy, six Hold, and three Sell, and an average consensus price target of $291.67.
• In the latest quarter, the company reported earnings per share of $4.96, exceeding analyst expectations, though its revenue for the quarter was down 10.5% year-over-year.

JPMorgan Chase & Co. (NYSE:JPM) reached a new 52-week high on Thursday . The company traded as high as $305.73 and last traded at $303.82, with a volume of 2374225 shares. The stock had previously closed at $300.54.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JPM. Truist Financial boosted 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. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Finally, Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and a consensus target price of $291.67.

JPMorgan Chase & Co. Price Performance

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The company's fifty day moving average is $293.54 and its 200 day moving average is $266.68. The stock has a market cap of $839.53 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 1.98 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter last year, the company earned $6.12 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Hedge funds have recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC grew its holdings in JPMorgan Chase & Co. by 609,867.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock worth $21,133,630,000 after acquiring an additional 72,885,260 shares during the period. Geode Capital Management LLC grew its holdings in JPMorgan Chase & Co. by 0.5% during the second quarter. Geode Capital Management LLC now owns 61,129,271 shares of the financial services provider's stock worth $17,646,506,000 after acquiring an additional 300,160 shares during the period. Norges Bank acquired a new position in JPMorgan Chase & Co. during the second quarter worth about $10,295,209,000. Bank of New York Mellon Corp grew its holdings in JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after acquiring an additional 454,226 shares during the period. Finally, GAMMA Investing LLC grew its holdings in JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares during the period. 71.55% of the stock is currently owned by 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.

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