Royal Bank Of Canada Reiterates "Buy" Rating for JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Royal Bank of Canada has reiterated its "Buy" rating for JPMorgan Chase & Co., setting a price target of $343.00, which suggests a potential upside of 13.54% from the current stock price.
• Despite a restated "Buy" rating, JPMorgan's stock recently traded down by 1.9%, reaching $302.11 during midday trading.
• The financial services provider reported $5.07 EPS for the last quarter, surpassing analysts' expectations of $4.83, and reflected an annual revenue increase of 8.8%.

JPMorgan Chase & Co. (NYSE:JPM)'s stock had its "buy" rating restated by analysts at Royal Bank Of Canada in a research report issued on Tuesday,MarketScreener Latest Ratings reports. They currently have a $343.00 price objective on the financial services provider's stock. Royal Bank Of Canada's price target suggests a potential upside of 13.54% from the company's current price.

A number of other equities analysts also recently weighed in on JPM. Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Daiwa Capital Markets boosted their price target on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings restated a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 8th. Fifteen analysts have rated the stock with 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 a consensus rating of "Hold" and a consensus price target of $317.90.

JPMorgan Chase & Co. Trading Down 1.9%

JPM stock traded down $5.86 during midday trading on Tuesday, reaching $302.11. The company's stock had a trading volume of 13,183,446 shares, compared to its average volume of 9,552,800. The business's 50-day simple moving average is $301.89 and its 200-day simple moving average is $277.44. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The stock has a market cap of $830.72 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13.

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

Insider Transactions at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm'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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is owned by company insiders.

Institutional Trading of JPMorgan Chase & Co.

A number of institutional investors have recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC lifted its stake in shares of JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock valued at $21,133,630,000 after acquiring an additional 72,885,260 shares during the last quarter. Norges Bank bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $10,295,209,000. Laurel Wealth Advisors LLC increased its position in JPMorgan Chase & Co. by 28,813.7% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider's stock valued at $4,866,309,000 after acquiring an additional 16,727,530 shares during the period. Nuveen LLC bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $3,972,807,000. Finally, Viking Global Investors LP lifted its holdings in shares of JPMorgan Chase & Co. by 86.1% during the second quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider's stock worth $1,171,826,000 after purchasing an additional 1,870,386 shares during the period. 71.55% of the stock is currently owned by 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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