TD Cowen Forecasts Strong Price Appreciation for JPMorgan Chase & Co. (NYSE:JPM) Stock

JPMorgan Chase & Co. (NYSE:JPM) had its price objective raised by equities researchers at TD Cowen from $370.00 to $375.00 in a report issued on Monday,MarketScreener reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price objective points to a potential upside of 18.73% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Morgan Stanley set a $331.00 price target on JPMorgan Chase & Co. in a report on Tuesday, December 9th. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $332.00 to $336.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. UBS Group upped their price target on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Finally, Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $345.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $327.05.

JPMorgan Chase & Co. Trading Down 1.3%

JPM opened at $315.85 on Monday. The firm’s fifty day moving average is $307.15 and its two-hundred day moving average is $297.62. The firm has a market cap of $859.84 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.66 and a beta of 1.08. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $322.88. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.83 by $0.24. The company had revenue of $47.12 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.37 EPS. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the transaction, the insider owned 58,479 shares in the company, valued at $18,240,769.68. This trade represents a 1.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Harbor Asset Planning Inc. acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. grew its stake in shares of JPMorgan Chase & Co. by 450.0% in the second quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 90 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of JPMorgan Chase & Co. in the third quarter valued at about $32,000. Family Legacy Financial Solutions LLC increased its position in JPMorgan Chase & Co. by 92.6% during the third quarter. Family Legacy Financial Solutions LLC now owns 104 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 50 shares during the period. Finally, Turning Point Benefit Group Inc. acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter worth about $35,000. 71.55% of the stock is currently owned by institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.