JPMorgan Chase & Co. (JPM) Raised to “Buy” at Zacks Investment Research

JPMorgan Chase & Co. (NYSE:JPM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $126.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.49% from the stock’s current price.

According to Zacks, “JPMorgan's shares have outperformed the industry over the past six months. This price performance is backed by impressive earnings surprise history, with the company surpassing the Zacks Consensus Estimate in each of the trailing four quarters. The company’s fourth-quarter 2017 results benefited mainly from higher interest income and investment banking fees, partially offset by lower trading revenues and mortgage banking fess along with a surge in provisions for loan losses. The bank’s efforts to manage expenses, higher interest rates and rising loan demand will likely continue to benefit its financials. While the company faces persistent fee income growth challenge, mainly due to a slowdown in trading activities and dismal capital markets performance, lower tax rates will aid profitability in the quarters ahead.”

Several other brokerages have also issued reports on JPM. Argus upped their price target on JPMorgan Chase & Co. from $109.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, January 12th. Barclays upped their price target on JPMorgan Chase & Co. from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, October 13th. Nomura set a $115.00 price target on JPMorgan Chase & Co. and gave the company a “neutral” rating in a research note on Friday, January 12th. Credit Suisse Group reaffirmed an “outperform” rating and set a $125.00 price target (up previously from $120.00) on shares of JPMorgan Chase & Co. in a research note on Tuesday, January 16th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, October 12th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $105.81.

Shares of JPMorgan Chase & Co. (NYSE:JPM) traded down $0.25 during mid-day trading on Thursday, hitting $113.01. The stock had a trading volume of 18,696,398 shares, compared to its average volume of 14,060,000. The company has a quick ratio of 1.03, a current ratio of 1.01 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $392,110.00, a PE ratio of 16.33, a PEG ratio of 1.93 and a beta of 1.22. JPMorgan Chase & Co. has a 12 month low of $81.64 and a 12 month high of $114.34.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, January 12th. The financial services provider reported $1.76 EPS for the quarter, topping the consensus estimate of $1.69 by $0.07. The company had revenue of $24.15 billion for the quarter, compared to analysts’ expectations of $24.87 billion. JPMorgan Chase & Co. had a return on equity of 11.63% and a net margin of 21.46%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.71 earnings per share. equities research analysts forecast that JPMorgan Chase & Co. will post 8.78 earnings per share for the current year.

In other news, CEO Mary E. Erdoes sold 65,101 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $112.25, for a total transaction of $7,307,587.25. Following the sale, the chief executive officer now owns 479,882 shares of the company’s stock, valued at $53,866,754.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Peter Scher sold 26,532 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $113.42, for a total value of $3,009,259.44. The disclosure for this sale can be found here. Insiders sold 154,146 shares of company stock worth $17,312,129 in the last three months. Insiders own 0.88% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its holdings in shares of JPMorgan Chase & Co. by 517.3% during the second quarter. Janus Henderson Group PLC now owns 5,553,819 shares of the financial services provider’s stock worth $507,632,000 after buying an additional 4,654,113 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of JPMorgan Chase & Co. by 9,301.6% during the third quarter. Stifel Financial Corp now owns 4,351,736 shares of the financial services provider’s stock worth $415,662,000 after buying an additional 4,305,449 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of JPMorgan Chase & Co. by 29.2% during the second quarter. Alliancebernstein L.P. now owns 17,456,699 shares of the financial services provider’s stock worth $1,595,542,000 after buying an additional 3,945,948 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of JPMorgan Chase & Co. by 1.5% during the second quarter. Vanguard Group Inc. now owns 249,887,622 shares of the financial services provider’s stock worth $22,839,729,000 after buying an additional 3,717,683 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of JPMorgan Chase & Co. by 40.8% during the second quarter. Parametric Portfolio Associates LLC now owns 9,769,017 shares of the financial services provider’s stock worth $892,886,000 after buying an additional 2,828,726 shares in the last quarter. 73.78% of the stock is currently owned by institutional investors.

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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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