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.

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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.