Wells Fargo & Company Downgrades JPMorgan Chase & Co. (NYSE:JPM) to Equal Weight

JPMorgan Chase & Co. (NYSE:JPM) was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research report issued on Friday, Briefing.com reports.

Several other equities analysts have also recently issued reports on the company. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating and set a $185.00 price target on the stock. in a research report on Tuesday, January 4th. BMO Capital Markets upped their target price on JPMorgan Chase & Co. from $139.00 to $140.00 and gave the company a “market perform” rating in a research note on Thursday, October 14th. Credit Suisse Group set a $177.00 target price on JPMorgan Chase & Co. in a research note on Thursday, October 14th. Jefferies Financial Group boosted their price target on JPMorgan Chase & Co. from $177.00 to $198.00 and gave the company a “buy” rating in a report on Monday, October 11th. Finally, Berenberg Bank set a $125.00 price objective on JPMorgan Chase & Co. in a report on Monday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $176.42.

Shares of JPMorgan Chase & Co. stock traded down $10.33 during mid-day trading on Friday, reaching $157.90. 1,878,942 shares of the stock traded hands, compared to its average volume of 11,865,099. JPMorgan Chase & Co. has a fifty-two week low of $127.35 and a fifty-two week high of $172.96. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $466.64 billion, a PE ratio of 9.99, a PEG ratio of 2.82 and a beta of 1.13. The business has a 50-day moving average of $162.40 and a 200 day moving average of $160.73.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, January 14th. The financial services provider reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.35. JPMorgan Chase & Co. had a return on equity of 19.89% and a net margin of 39.41%. The company had revenue of $29.26 billion during the quarter, compared to analysts’ expectations of $29.78 billion. During the same quarter last year, the firm earned $3.79 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts expect that JPMorgan Chase & Co. will post 15.01 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of JPM. Eagle Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 1.6% during the second quarter. Eagle Capital Management LLC now owns 25,176 shares of the financial services provider’s stock worth $3,916,000 after purchasing an additional 406 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in JPMorgan Chase & Co. by 12.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 564,922 shares of the financial services provider’s stock worth $87,868,000 after acquiring an additional 64,608 shares during the period. WINTON GROUP Ltd acquired a new stake in JPMorgan Chase & Co. during the second quarter worth about $467,000. Schnieders Capital Management LLC raised its stake in JPMorgan Chase & Co. by 10.3% during the second quarter. Schnieders Capital Management LLC now owns 65,095 shares of the financial services provider’s stock worth $10,125,000 after acquiring an additional 6,058 shares during the period. Finally, Semmax Financial Advisors Inc. raised its stake in JPMorgan Chase & Co. by 12.3% during the second quarter. Semmax Financial Advisors Inc. now owns 6,660 shares of the financial services provider’s stock worth $1,036,000 after acquiring an additional 731 shares during the period. 69.32% of the stock is currently owned by institutional investors and hedge funds.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

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