JPMorgan Chase & Co. (JPM) Raised to Buy at Credit Suisse Group

JPMorgan Chase & Co. (NYSE:JPM) was upgraded by equities researchers at Credit Suisse Group to a “buy” rating in a note issued to investors on Friday. The firm presently has a $120.00 price target on the financial services provider’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 10.76% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Wells Fargo & Co raised their price target on shares of JPMorgan Chase & Co. from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Royal Bank of Canada reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Friday, December 8th. Jefferies Group reaffirmed a “buy” rating and set a $102.00 price target on shares of JPMorgan Chase & Co. in a research report on Friday, September 15th. Barclays raised their price target on shares of JPMorgan Chase & Co. from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, October 13th. Finally, BMO Capital Markets raised their price target on shares of JPMorgan Chase & Co. from $86.00 to $91.00 and gave the stock a “market perform” rating in a research report on Friday, October 13th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seventeen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $93.63.

JPMorgan Chase & Co. (NYSE JPM) traded down $0.70 during midday trading on Friday, hitting $108.34. 13,300,254 shares of the stock were exchanged, compared to its average volume of 14,100,000. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.37. The firm has a market cap of $375,910.00, a PE ratio of 15.54, a PEG ratio of 2.04 and a beta of 1.22. JPMorgan Chase & Co. has a one year low of $81.64 and a one year high of $110.03.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.09. The company had revenue of $25.33 billion during the quarter, compared to analysts’ expectations of $24.91 billion. JPMorgan Chase & Co. had a net margin of 24.08% and a return on equity of 11.68%. JPMorgan Chase & Co.’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 EPS. equities analysts anticipate that JPMorgan Chase & Co. will post 6.91 EPS for the current fiscal year.

In other news, General Counsel Stacey Friedman sold 2,099 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $101.96, for a total value of $214,014.04. Following the sale, the general counsel now directly owns 15,279 shares in the company, valued at approximately $1,557,846.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.88% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Segantii Capital Management Ltd acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $2,196,000. SRS Capital Advisors Inc. boosted its position in JPMorgan Chase & Co. by 27.1% during the 1st quarter. SRS Capital Advisors Inc. now owns 4,853 shares of the financial services provider’s stock worth $426,000 after buying an additional 1,035 shares during the period. Stockman Wealth Management Inc. boosted its position in JPMorgan Chase & Co. by 8.0% during the 1st quarter. Stockman Wealth Management Inc. now owns 39,074 shares of the financial services provider’s stock worth $3,432,000 after buying an additional 2,904 shares during the period. Jacobson & Schmitt Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $244,000. Finally, State Street Corp boosted its position in JPMorgan Chase & Co. by 0.8% during the 1st quarter. State Street Corp now owns 170,534,760 shares of the financial services provider’s stock worth $14,979,775,000 after buying an additional 1,357,194 shares during the period. Institutional investors own 73.75% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was first reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international copyright law. The legal version of this article can be read at https://www.americanbankingnews.com/2018/01/07/jpmorgan-chase-co-jpm-raised-to-buy-at-credit-suisse-group.html.

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 offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

Analyst Recommendations for JPMorgan Chase & Co. (NYSE:JPM)

Leave a Reply