JPMorgan Chase & Co. (NYSE:JPM) Downgraded by Zacks Research to Hold

JPMorgan Chase & Co. (NYSE:JPM) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on JPM. Truist Financial increased their target price on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a “hold” rating in a research report on Wednesday, July 9th. Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. TD Securities reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada set a $305.00 price objective on shares of JPMorgan Chase & Co. and gave the company an “outperform” rating in a report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $291.67.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $297.70 on Monday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The company has a fifty day moving average of $293.36 and a two-hundred day moving average of $266.44. The stock has a market capitalization of $818.60 billion, a PE ratio of 15.27, a P/E/G ratio of 1.95 and a beta of 1.13. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $305.15.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $6.12 earnings per share. As a group, research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in JPM. NWF Advisory Services Inc. lifted its holdings in JPMorgan Chase & Co. by 13.6% during the 2nd quarter. NWF Advisory Services Inc. now owns 17,826 shares of the financial services provider’s stock worth $5,168,000 after buying an additional 2,132 shares in the last quarter. Prospera Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 3.2% during the 2nd quarter. Prospera Capital Management LLC now owns 2,422 shares of the financial services provider’s stock worth $702,000 after buying an additional 76 shares in the last quarter. ZynergyRetirementPlanningLLC lifted its holdings in JPMorgan Chase & Co. by 11.1% during the 2nd quarter. ZynergyRetirementPlanningLLC now owns 1,321 shares of the financial services provider’s stock worth $383,000 after buying an additional 132 shares in the last quarter. V. M. Manning & CO. Inc. acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $363,000. Finally, American Trust lifted its holdings in JPMorgan Chase & Co. by 2.5% during the 2nd quarter. American Trust now owns 37,250 shares of the financial services provider’s stock worth $10,799,000 after buying an additional 908 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.