Daiwa Capital Markets Downgrades JPMorgan Chase & Co. (JPM) to Market Perform

JPMorgan Chase & Co. (NYSE:JPM) was downgraded by Daiwa Capital Markets from an “outperform” rating to a “market perform” rating in a report released on Friday, The Fly reports.

Several other research analysts have also recently commented on JPM. Goldman Sachs Group set a $130.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “neutral” rating in a report on Friday, October 12th. Vining Sparks restated a “buy” rating and set a $125.00 target price on shares of JPMorgan Chase & Co. in a report on Friday, October 12th. Bank of America set a $132.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Sunday, October 14th. BMO Capital Markets increased their target price on shares of JPMorgan Chase & Co. to $124.00 and gave the stock a “market perform” rating in a report on Monday, October 15th. Finally, Zacks Investment Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, October 16th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. JPMorgan Chase & Co. currently has an average rating of “Hold” and an average target price of $122.94.

Shares of JPM stock traded down $1.02 during trading hours on Friday, hitting $101.36. 12,744,157 shares of the company were exchanged, compared to its average volume of 13,908,782. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 1.22. JPMorgan Chase & Co. has a 52 week low of $91.11 and a 52 week high of $119.33. The company has a market capitalization of $348.14 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 1.57 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, January 15th. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.20 by ($0.22). JPMorgan Chase & Co. had a return on equity of 14.07% and a net margin of 24.71%. The company had revenue of $26.10 billion for the quarter, compared to the consensus estimate of $26.69 billion. During the same period in the prior year, the company earned $1.76 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 9.94 EPS for the current year.

In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 11,659 shares of the stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $105.00, for a total value of $1,224,195.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ashley Bacon sold 5,831 shares of the stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $102.78, for a total transaction of $599,310.18. Following the completion of the sale, the insider now owns 98,838 shares of the company’s stock, valued at approximately $10,158,569.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,191 shares of company stock valued at $4,102,110. Corporate insiders own 0.73% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund lifted its stake in shares of JPMorgan Chase & Co. by 5,338.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 39,471,964 shares of the financial services provider’s stock worth $404,000 after buying an additional 38,746,167 shares during the last quarter. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $278,896,000. Rehmann Capital Advisory Group lifted its stake in shares of JPMorgan Chase & Co. by 5,555.9% during the 3rd quarter. Rehmann Capital Advisory Group now owns 2,352,612 shares of the financial services provider’s stock worth $11,266,384,000 after buying an additional 2,311,016 shares during the last quarter. Royal London Asset Management Ltd. acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $182,400,000. Finally, Vantage Investment Partners LLC lifted its stake in shares of JPMorgan Chase & Co. by 412.9% during the 2nd quarter. Vantage Investment Partners LLC now owns 1,316,543 shares of the financial services provider’s stock worth $137,183,000 after buying an additional 1,059,869 shares during the last quarter. Hedge funds and other institutional investors own 70.15% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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