JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 1.1% - Should You Buy?

Key Points

• JPMorgan Chase & Co. shares rose 1.1% to $294.66, with a notable trading volume decline of 78% from the average.
• Analysts have mixed views, with Bank of America raising its price target to $340, while Phillip Securities downgraded to a "hold" rating.
• The company reported quarterly earnings of $4.96 per share, exceeding estimates and reflecting a 20.52% net margin, despite a revenue decline of 10.5% year-over-year.

Shares of JPMorgan Chase & Co. (NYSE:JPM) rose 1.1% during mid-day trading on Friday . The stock traded as high as $295.84 and last traded at $294.66. Approximately 2,116,189 shares changed hands during trading, a decline of 78% from the average daily volume of 9,795,615 shares. The stock had previously closed at $291.47.

Analysts Set New Price Targets

Several research firms have commented on JPM. Bank of America raised their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Finally, Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Price Performance

The company has a market capitalization of $813.90 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. 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 business's 50-day moving average price is $288.29 and its 200 day moving average price is $264.27.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping 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 firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same period last year, the firm posted $6.12 earnings per share. The business's revenue was down 10.5% compared to the same quarter last year. Analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares of the company's stock, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.47% of the company's stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently made changes to their positions in JPM. Harbor Asset Planning Inc. acquired a new position in shares of JPMorgan Chase & Co. during the second quarter worth about $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth approximately $30,000. Mizuho Securities Co. Ltd. grew its position in shares of JPMorgan Chase & Co. by 450.0% during the second quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider's stock worth $32,000 after buying an additional 90 shares in the last quarter. Finally, Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth approximately $33,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.