Wolfe Research Increases JPMorgan Chase & Co. (NYSE:JPM) Price Target to $346.00

Key Points

• Wolfe Research has raised its price target for JPMorgan Chase & Co. from $342.00 to $346.00, indicating a potential upside of 16.18% from its current price, while maintaining an "outperform" rating.
• Multiple brokerages have recently adjusted their ratings, with Barclays raising its price objective to $342.00, while Baird R W downgraded the company to a "strong sell."
• The company's stock opened at $297.81, with recent earnings showing an EPS of $5.07 for the quarter, surpassing estimates, and quarterly revenue increased by 8.8% compared to the previous year.

JPMorgan Chase & Co. (NYSE:JPM) had its target price raised by stock analysts at Wolfe Research from $342.00 to $346.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm presently has an "outperform" rating on the financial services provider's stock. Wolfe Research's price target indicates a potential upside of 16.18% from the company's current price.

A number of other brokerages also recently commented on JPM. Barclays raised their price objective on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an "overweight" rating in a research report on Wednesday. Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Zacks Research cut shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Citigroup increased their price objective on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 24th. Finally, Evercore ISI lifted their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 30th. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $322.86.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $297.81 on Thursday. The business's fifty day moving average price is $302.82 and its 200 day moving average price is $278.77. The firm has a market capitalization of $818.91 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter in the prior year, the firm earned $4.37 earnings per share. The business's quarterly revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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 insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of JPM. Florida Financial Advisors LLC raised its holdings in shares of 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 acquiring an additional 3,792 shares in the last quarter. Crown Wealth Group LLC raised its holdings in JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after purchasing an additional 222 shares in the last quarter. Mosaic Financial Group LLC raised its holdings in JPMorgan Chase & Co. by 0.8% in the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock worth $2,280,000 after purchasing an additional 78 shares in the last quarter. Morse Asset Management Inc grew its stake in shares of JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after acquiring an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC grew its stake in shares of 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 worth $677,000 after acquiring an additional 112 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

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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