JPMorgan Chase & Co. (NYSE:JPM) Trading 1.1% Higher - Should You Buy?

Key Points

• JPMorgan Chase & Co. shares increased by 1.1% to $302.94, though trading volume was down 85% compared to the average, indicating potential volatility.
• Analysts have raised their price targets for JPMorgan, with Wells Fargo setting a target at $325 and Bank of America at $340, while the average target price remains at $291.67.
• Despite a quarterly revenue drop of 10.5%, the company exceeded EPS expectations, reporting $4.96 against a consensus of $4.48, indicating strong financial resilience.

JPMorgan Chase & Co. (NYSE:JPM)'s share price traded up 1.1% during trading on Thursday . The company traded as high as $302.64 and last traded at $302.94. 1,491,435 shares were traded during trading, a decline of 85% from the average session volume of 9,647,049 shares. The stock had previously closed at $299.51.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on JPM shares. Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Bank of America upped their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $291.67.

JPMorgan Chase & Co. Price Performance

The company has a 50-day simple moving average of $292.71 and a 200-day simple moving average of $265.82. The stock has a market cap of $835.45 billion, a PE ratio of 15.59, a PEG ratio of 2.00 and a beta of 1.13. 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 posted its quarterly earnings data 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 analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $6.12 earnings per share. Sell-side 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, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.47% of the company's stock.

Institutional Trading of JPMorgan Chase & Co.

Hedge funds have recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC increased 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 acquiring an additional 35 shares in the last quarter. Cottonwood Capital Advisors LLC increased 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 acquiring an additional 35 shares in the last quarter. Coign Capital Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 1.2% in the second quarter. Coign Capital Advisors LLC now owns 2,854 shares of the financial services provider's stock worth $827,000 after acquiring an additional 35 shares in the last quarter. Rialto Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 3.9% in the second quarter. Rialto Wealth Management LLC now owns 929 shares of the financial services provider's stock worth $269,000 after acquiring an additional 35 shares in the last quarter. Finally, Breed s Hill Capital LLC increased its position in shares of JPMorgan Chase & Co. by 0.8% in the second quarter. Breed s Hill Capital LLC now owns 4,642 shares of the financial services provider's stock worth $1,346,000 after acquiring an additional 35 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

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.

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.