TD Cowen Issues Positive Forecast for JPMorgan Chase & Co. (NYSE:JPM) Stock Price

Key Points

• TD Cowen has raised its price target for JPMorgan Chase & Co. from $350.00 to $370.00, indicating a potential upside of 19.40% from the stock's previous close, while maintaining a "buy" rating.
• JPMorgan's last reported earnings showed an EPS of $4.96, exceeding analysts' expectations, although revenue declined by 10.5% year-over-year.
• Fifteen research analysts rated JPMorgan Chase with a "Buy" rating, whereas others have issued mixed ratings, reflecting varying market sentiments around the stock.

JPMorgan Chase & Co. (NYSE:JPM) had its target price increased by TD Cowen from $350.00 to $370.00 in a report released on Friday,MarketScreener reports. The brokerage presently has a "buy" rating on the financial services provider's stock. TD Cowen's price objective suggests a potential upside of 19.40% from the stock's previous close.

A number of other brokerages have also recently commented on JPM. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. 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. Evercore ISI boosted their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an "outperform" rating in a report on Tuesday. Morgan Stanley raised their price objective on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the stock an "equal weight" rating in a research note on Monday. Finally, Weiss Ratings restated a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a report on Saturday, September 27th. Fifteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $307.70.

JPMorgan Chase & Co. Stock Up 0.8%

NYSE JPM opened at $309.89 on Friday. The stock has a market capitalization of $852.11 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 2.03 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a fifty day moving average of $300.67 and a 200-day moving average of $274.48.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period last year, the company earned $6.12 earnings per share. The company's revenue was down 10.5% on a year-over-year basis. On average, equities research analysts forecast 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 stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.47% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after acquiring an additional 4,841 shares during the period. Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $33,000. Procyon Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 0.6% in the 1st quarter. Procyon Advisors LLC now owns 90,497 shares of the financial services provider's stock valued at $22,199,000 after purchasing an additional 564 shares during the last quarter. MKT Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 3.3% during the 1st quarter. MKT Advisors LLC now owns 2,869 shares of the financial services provider's stock worth $704,000 after buying an additional 91 shares in the last quarter. Finally, Sandbox Financial Partners LLC lifted its position in shares of JPMorgan Chase & Co. by 4.7% during the 1st quarter. Sandbox Financial Partners LLC now owns 5,946 shares of the financial services provider's stock worth $1,459,000 after buying an additional 267 shares during the last quarter. 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.

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