JPMorgan Chase & Co. (JPM) Stock Rating Lowered by BMO Capital Markets
JPMorgan Chase & Co. (NYSE:JPM) was downgraded by research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued on Monday, The Fly reports. The analysts noted that the move was a valuation call.
A number of other analysts have also recently commented on the stock. Buckingham Research cut shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating in a report on Monday. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $71.00 price objective on shares of JPMorgan Chase & Co. in a research note on Saturday. Barclays PLC reissued an “overweight” rating and issued a $79.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 12th. Compass Point assumed coverage on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 11th. They issued a “sell” rating for the company. Finally, Jefferies Group increased their price objective on shares of JPMorgan Chase & Co. from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, October 10th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the stock. JPMorgan Chase & Co. has a consensus rating of “Buy” and a consensus target price of $72.35.
JPMorgan Chase & Co. (NYSE:JPM) opened at 67.52 on Monday. The stock has a market cap of $243.85 billion, a PE ratio of 11.44 and a beta of 1.54. The company 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.
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JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 14th. The financial services provider reported $1.58 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.19. JPMorgan Chase & Co. had a net margin of 22.92% and a return on equity of 10.47%. The business earned $25.50 billion during the quarter. During the same period in the prior year, the company posted $1.54 earnings per share. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post $5.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, October 6th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $1.92 annualized dividend and a dividend yield of 2.84%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 33.10%.
Several large investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC purchased a new stake in JPMorgan Chase & Co. during the first quarter valued at about $107,000. Jackson Grant Investment Advisers Inc. increased its position in JPMorgan Chase & Co. by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,014 shares of the financial services provider’s stock valued at $125,000 after buying an additional 14 shares in the last quarter. Vigilant Capital Management LLC increased its position in JPMorgan Chase & Co. by 22.1% in the second quarter. Vigilant Capital Management LLC now owns 2,079 shares of the financial services provider’s stock valued at $129,000 after buying an additional 376 shares in the last quarter. Perkins Coie Trust Co increased its position in JPMorgan Chase & Co. by 10.2% in the second quarter. Perkins Coie Trust Co now owns 2,163 shares of the financial services provider’s stock valued at $134,000 after buying an additional 200 shares in the last quarter. Finally, CT Financial Advisors LLC increased its position in JPMorgan Chase & Co. by 4.2% in the third quarter. CT Financial Advisors LLC now owns 2,187 shares of the financial services provider’s stock valued at $146,000 after buying an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.
About JPMorgan Chase & Co.
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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