JPMorgan Chase & Co. (JPM) Receives Buy Rating from Vining Sparks
JPMorgan Chase & Co. (NYSE:JPM)‘s stock had its “buy” rating reissued by analysts at Vining Sparks in a report issued on Friday. They presently have a $120.00 price target on the financial services provider’s stock. Vining Sparks’ price objective indicates a potential upside of 6.51% from the stock’s previous close.
The analysts wrote, “JPM continues to demonstrate its strong underlying fundamentals as its profitability remains well above the other Money Center Banks. Therefore, we believe that its current P/TBV multiple of 209% should experience modest expansion towards 215% over the next 12 months, as capital markets activities eventually rebound, tax reform is realized, and short-term interest rates continue normalizing. This should enable JPM to improve its operating return on tangible common equity (ROTCE) by 3 full percentage points in 2018E. We believe this modest multiple expansion paired with mid-single digit TBV growth should allow JPM to outperform the S&P 500 in 2018E.””
A number of other research analysts have also recently issued reports on the company. Wells Fargo & Co lifted their price objective on JPMorgan Chase & Co. from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Royal Bank of Canada reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Friday, December 8th. Jefferies Group reaffirmed a “buy” rating and issued a $102.00 price target on shares of JPMorgan Chase & Co. in a report on Friday, September 15th. Barclays lifted their price target on JPMorgan Chase & Co. from $105.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Finally, BMO Capital Markets lifted their price target on JPMorgan Chase & Co. from $86.00 to $91.00 and gave the company a “market perform” rating in a report on Friday, October 13th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $102.52.
JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.07. The company had revenue of $24.15 billion during the quarter, compared to analysts’ expectations of $24.87 billion. JPMorgan Chase & Co. had a return on equity of 11.68% and a net margin of 24.08%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $1.71 earnings per share. equities analysts forecast that JPMorgan Chase & Co. will post 6.91 EPS for the current year.
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,099 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $101.96, for a total transaction of $214,014.04. Following the completion of the sale, the general counsel now directly owns 15,279 shares of the company’s stock, valued at approximately $1,557,846.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Private Vista LLC acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $102,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $102,000. Welch Investments LLC acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $103,000. Legacy Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $106,000. Finally, Atlantic Trust LLC acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $136,000. 73.76% of the stock is owned by hedge funds and other institutional investors.
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 offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
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