JPMorgan Chase & Co. (JPM) Rating Lowered to Neutral at Buckingham Research
JPMorgan Chase & Co. (NYSE:JPM) was downgraded by equities research analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a research note issued on Monday, The Fly reports.
JPM has been the subject of a number of other research reports. Credit Agricole SA upped their price target on shares of JPMorgan Chase & Co. from $71.00 to $79.00 and gave the stock a “buy” rating in a report on Friday, September 23rd. Zacks Investment Research downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, September 27th. Nomura reaffirmed a “hold” rating and set a $65.00 price target on shares of JPMorgan Chase & Co. in a report on Thursday, September 29th. Finally, Sandler O’Neill downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $72.00 price target for the company. in a report on Thursday, October 6th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company. JPMorgan Chase & Co. currently has an average rating of “Buy” and a consensus price target of $72.35.
JPMorgan Chase & Co. (NYSE:JPM) traded up 0.09% during mid-day trading on Monday, reaching $67.58. 2,949,291 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $67.03 and a 200-day moving average of $64.01. JPMorgan Chase & Co. has a 12 month low of $52.50 and a 12 month high of $69.06. The firm has a market cap of $244.07 billion, a price-to-earnings ratio of 11.45 and a beta of 1.54.
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JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.19. The firm earned $25.50 billion during the quarter. JPMorgan Chase & Co. had a net margin of 22.92% and a return on equity of 10.47%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 EPS. Analysts anticipate that JPMorgan Chase & Co. will post $5.66 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Thursday, October 6th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Tuesday, October 4th. JPMorgan Chase & Co.’s payout ratio is currently 33.10%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sadoff Investment Management LLC increased its stake in JPMorgan Chase & Co. by 3.4% in the first quarter. Sadoff Investment Management LLC now owns 4,674 shares of the financial services provider’s stock worth $277,000 after buying an additional 153 shares during the period. Forte Capital LLC ADV increased its stake in JPMorgan Chase & Co. by 1.1% in the first quarter. Forte Capital LLC ADV now owns 14,893 shares of the financial services provider’s stock worth $882,000 after buying an additional 163 shares during the period. First Manhattan Co. increased its stake in JPMorgan Chase & Co. by 8.9% in the first quarter. First Manhattan Co. now owns 176,209 shares of the financial services provider’s stock worth $10,435,000 after buying an additional 14,334 shares during the period. Douglas Lane & Associates LLC bought a new stake in JPMorgan Chase & Co. during the first quarter worth about $25,105,000. Finally, Duncker Streett & Co. Inc. increased its stake in JPMorgan Chase & Co. by 1.3% in the first quarter. Duncker Streett & Co. Inc. now owns 38,562 shares of the financial services provider’s stock worth $2,284,000 after buying an additional 513 shares during the period. 73.41% of the stock is currently owned by institutional investors.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment serves consumers and businesses through personal service at bank branches and through automatic teller machines, online, mobile and telephone banking.
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