Wells Fargo & Company Issues Positive Forecast for JPMorgan Chase & Co. (NYSE:JPM) Stock Price

Key Points

• Wells Fargo raised its price target on JPMorgan Chase from $350 to $360 and kept an overweight rating, implying about 7.8% upside from the current price.
• Other analysts have mixed views on JPM, with the overall consensus still at Hold and an average target price of $341.29.
• JPMorgan recently beat quarterly expectations, reporting $5.94 EPS and $50.54 billion in revenue, while insiders also made notable stock sales in recent months.

JPMorgan Chase & Co. (NYSE:JPM) had its target price boosted by analysts at Wells Fargo & Company from $350.00 to $360.00 in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's target price would indicate a potential upside of 7.81% from the stock's current price.

Several other research firms have also recently commented on JPM. Autonomous Res dropped their price objective on JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. The Goldman Sachs Group set a $361.00 target price on JPMorgan Chase & Co. in a research report on Tuesday, April 14th. Daiwa Securities Group lowered their target price on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 7th. Morgan Stanley lifted their price target on shares of JPMorgan Chase & Co. from $336.00 to $362.00 and gave the stock an "equal weight" rating in a research note on Monday, June 29th. Finally, Zacks Research cut shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Hold" and an average target price of $341.29.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $333.91 on Monday. The company has a market capitalization of $894.72 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 1.53 and a beta of 0.99. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average of $313.35 and a 200 day moving average of $309.02. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $343.45.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.50 by $0.44. The business had revenue of $50.54 billion for the quarter, compared to analysts' expectations of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm's quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $5.07 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 22.76 earnings per share for the current fiscal year.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,468 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the sale, the general counsel owned 46,428 shares in the company, valued at $13,940,935.56. The trade was a 10.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total value of $2,800,732.16. Following the completion of the sale, the chief operating officer directly owned 90,001 shares in the company, valued at $27,590,706.56. This trade represents a 9.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 33,623 shares of company stock worth $10,427,835 over the last ninety days. Corporate insiders own 0.41% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of JPM. Kozak & Associates Inc. grew its stake in shares of JPMorgan Chase & Co. by 0.5% in the 2nd quarter. Kozak & Associates Inc. now owns 7,459 shares of the financial services provider's stock worth $2,492,000 after buying an additional 40 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of JPMorgan Chase & Co. by 2.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 263,591 shares of the financial services provider's stock valued at $86,281,000 after acquiring an additional 5,711 shares during the last quarter. Hilltop National Bank grew its position in JPMorgan Chase & Co. by 1.9% in the second quarter. Hilltop National Bank now owns 11,391 shares of the financial services provider's stock worth $3,729,000 after acquiring an additional 216 shares in the last quarter. SWP Investment Management LLC grew its position in JPMorgan Chase & Co. by 3.8% in the second quarter. SWP Investment Management LLC now owns 12,012 shares of the financial services provider's stock worth $3,932,000 after acquiring an additional 440 shares in the last quarter. Finally, First County Bank CT increased its stake in JPMorgan Chase & Co. by 13.5% during the second quarter. First County Bank CT now owns 9,744 shares of the financial services provider's stock worth $3,190,000 after acquiring an additional 1,156 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co NYSE: JPM is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm's principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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