JPMorgan Chase & Co. (JPM) Price Target Cut to $123.00 by Analysts at BMO Capital Markets

JPMorgan Chase & Co. (NYSE:JPM) had its target price lowered by BMO Capital Markets from $124.00 to $123.00 in a research note issued to investors on Wednesday morning, The Fly reports. BMO Capital Markets currently has a market perform rating on the financial services provider’s stock.

Several other research analysts also recently issued reports on JPM. Wolfe Research initiated coverage on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 25th. They set an outperform rating on the stock. Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $115.00 to $125.00 and gave the company a neutral rating in a report on Wednesday, September 26th. Goldman Sachs Group set a $130.00 target price on shares of JPMorgan Chase & Co. and gave the company a neutral rating in a report on Friday, October 12th. Vining Sparks reaffirmed a buy rating and issued a $125.00 target price on shares of JPMorgan Chase & Co. in a report on Friday, October 12th. Finally, Bank of America set a $132.00 target price on shares of JPMorgan Chase & Co. and gave the company a buy rating in a report on Sunday, October 14th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. JPMorgan Chase & Co. has an average rating of Buy and a consensus price target of $122.94.

JPMorgan Chase & Co. stock traded down $0.07 during midday trading on Wednesday, hitting $102.43. 708,569 shares of the company’s stock were exchanged, compared to its average volume of 18,133,520. JPMorgan Chase & Co. has a 12-month low of $91.11 and a 12-month high of $119.33. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.01 and a current ratio of 1.00. The company has a market capitalization of $348.96 billion, a P/E ratio of 11.39, a PEG ratio of 1.54 and a beta of 1.15.

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 business had revenue of $26.10 billion for the quarter, compared to analysts’ expectations of $26.69 billion. During the same period in the previous year, the business posted $1.76 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities analysts expect that JPMorgan Chase & Co. will post 9.93 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Friday, January 4th will be issued a $0.80 dividend. The ex-dividend date is Thursday, January 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 3.12%. JPMorgan Chase & Co.’s payout ratio is 35.56%.

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,831 shares of the business’s stock in a transaction that occurred 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 directly owns 98,838 shares in the company, valued at $10,158,569.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mellody L. Hobson acquired 1,150 shares of the firm’s stock in a transaction on Friday, October 19th. The shares were acquired at an average price of $108.94 per share, with a total value of $125,281.00. Following the completion of the purchase, the director now owns 2,632 shares of the company’s stock, valued at $286,730.08. The disclosure for this purchase can be found here. 0.73% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bogart Wealth LLC raised its holdings in JPMorgan Chase & Co. by 19.0% in the fourth quarter. Bogart Wealth LLC now owns 625 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 100 shares in the last quarter. Carmichael Hill & Associates Inc. raised its holdings in JPMorgan Chase & Co. by 2.3% in the fourth quarter. Carmichael Hill & Associates Inc. now owns 6,785 shares of the financial services provider’s stock valued at $662,000 after acquiring an additional 152 shares in the last quarter. Lourd Capital LLC raised its holdings in JPMorgan Chase & Co. by 0.5% in the fourth quarter. Lourd Capital LLC now owns 29,034 shares of the financial services provider’s stock valued at $2,834,000 after acquiring an additional 155 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in JPMorgan Chase & Co. by 0.8% in the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 22,886 shares of the financial services provider’s stock valued at $2,234,000 after acquiring an additional 189 shares in the last quarter. Finally, Granite Investment Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.5% during the fourth quarter. Granite Investment Advisors LLC now owns 40,149 shares of the financial services provider’s stock worth $3,919,000 after purchasing an additional 190 shares during the period. Institutional investors own 70.11% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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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Analyst Recommendations for JPMorgan Chase & Co. (NYSE:JPM)

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