JPMorgan Chase & Co. (NYSE:JPM) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Zacks Research has upgraded JPMorgan Chase & Co. from a "hold" rating to a "strong-buy" rating, signalling increased confidence in the company's future performance.
• Analysts have varied opinions on JPMorgan; while Barclays raised their target price to $342.00, Robert W. Baird downgraded it to $235.00.
• JPMorgan reported Q3 earnings of $5.07 per share, exceeding analyst expectations, with a revenue of $46.43 billion—a year-over-year increase of 8.8%.

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

Several other equities analysts have also recently commented on the stock. Barclays raised their target price on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an "overweight" rating in a research note on Wednesday, October 15th. Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a research report on Friday, June 27th. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada reiterated a "buy" rating and issued a $343.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Finally, Wolfe Research increased their target price on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an "outperform" rating in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $322.86.

JPMorgan Chase & Co. Stock Down 0.0%

JPMorgan Chase & Co. stock opened at $297.00 on Monday. The firm has a market capitalization of $816.66 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.83 and a beta of 1.13. The company has a 50-day simple moving average of $303.16 and a 200-day simple moving average of $279.88. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its 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 firm had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. JPMorgan Chase & Co.'s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $4.37 EPS. As a group, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of the company'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 transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Florida Financial Advisors LLC grew its stake in JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after purchasing an additional 3,792 shares in the last quarter. Crown Wealth Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 5.4% during 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 buying an additional 222 shares during the last quarter. Mosaic Financial Group LLC grew its stake 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 buying an additional 78 shares in the last quarter. Morse Asset Management Inc increased its holdings in JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after buying an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC raised its position in JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after acquiring an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

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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