JPMorgan Chase & Co. (NYSE:JPM) Cut to “Neutral” at Buckingham Research

Buckingham Research cut shares of JPMorgan Chase & Co. (NYSE:JPM) from a buy rating to a neutral rating in a report published on Monday morning, 24/7 WallStreet reports. Buckingham Research currently has $122.00 price target on the financial services provider’s stock. The analysts noted that the move was a valuation call.

A number of other equities analysts have also recently weighed in on the stock. Deutsche Bank reissued a neutral rating on shares of JPMorgan Chase & Co. in a research report on Friday, June 28th. Goldman Sachs Group restated a neutral rating and set a $117.00 price objective on shares of JPMorgan Chase & Co. in a report on Monday, July 22nd. ValuEngine upgraded shares of JPMorgan Chase & Co. from a sell rating to a hold rating in a report on Wednesday, September 4th. Wells Fargo & Co set a $125.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a buy rating in a report on Friday, August 16th. Finally, DZ Bank restated a hold rating on shares of JPMorgan Chase & Co. in a report on Wednesday, August 21st. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $121.94.

Shares of NYSE JPM opened at $119.76 on Monday. The company’s fifty day moving average is $111.08 and its 200-day moving average is $110.06. The stock has a market cap of $384.43 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 1.74 and a beta of 1.19. JPMorgan Chase & Co. has a twelve month low of $91.11 and a twelve month high of $120.40. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.22.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.32. The company had revenue of $28.83 billion for the quarter, compared to analysts’ expectations of $28.52 billion. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $2.29 earnings per share. On average, research analysts anticipate that JPMorgan Chase & Co. will post 9.88 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.01%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 35.56%.

In other JPMorgan Chase & Co. news, Director Mellody L. Hobson purchased 18,200 shares of the stock in a transaction on Thursday, August 8th. The shares were purchased at an average cost of $109.91 per share, for a total transaction of $2,000,362.00. Following the purchase, the director now owns 7,804 shares of the company’s stock, valued at $857,737.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Scher sold 10,816 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $115.00, for a total transaction of $1,243,840.00. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.

A number of hedge funds have recently modified their holdings of JPM. Nuveen Asset Management LLC increased its stake in JPMorgan Chase & Co. by 2,432.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 23,689,599 shares of the financial services provider’s stock valued at $2,648,497,000 after buying an additional 22,754,332 shares during the last quarter. Invesco Ltd. increased its stake in JPMorgan Chase & Co. by 39.8% in the 2nd quarter. Invesco Ltd. now owns 23,689,706 shares of the financial services provider’s stock valued at $2,648,509,000 after buying an additional 6,745,215 shares during the last quarter. Thoroughbred Financial Services LLC increased its stake in JPMorgan Chase & Co. by 11,601.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 4,973,970 shares of the financial services provider’s stock valued at $497,397,000 after buying an additional 4,931,461 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at $331,575,000. Finally, Amundi Pioneer Asset Management Inc. increased its stake in JPMorgan Chase & Co. by 43.3% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 7,563,083 shares of the financial services provider’s stock valued at $845,552,000 after buying an additional 2,283,575 shares during the last quarter. Hedge funds and other institutional investors own 71.89% 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 (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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

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