Zacks Investment Research downgraded shares of J P Morgan Chase & Co (NYSE:JPM) from a buy rating to a hold rating in a report released on Tuesday morning.

According to Zacks, “JPMorgan's shares have outperformed the industry over the past year. This price performance is backed by impressive earnings surprise history. The company has surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. The company’s efforts to control expenses through streamlining and branch consolidation are commendable. These have been supporting bottom line growth. While the company faces a persistent fee income growth challenge, the improved rate scenario, potential lesser regulations (once the Financial Choice Act gets implemented) and rising loan demand should continue to benefit its financials. Also, the bank's impressive capital deployment plans reflect its strong balance sheet position.”

Several other research firms have also recently issued reports on JPM. Buckingham Research reaffirmed a neutral rating and issued a $100.00 price target (up from $94.00) on shares of J P Morgan Chase & Co in a report on Monday, July 10th. Bank of America Corporation reaffirmed an outperform rating and issued a $99.00 price target on shares of J P Morgan Chase & Co in a report on Wednesday, June 21st. Keefe, Bruyette & Woods set a $96.00 target price on shares of J P Morgan Chase & Co and gave the stock a hold rating in a report on Saturday, August 19th. Goldman Sachs Group, Inc. (The) reissued a neutral rating and set a $93.00 target price on shares of J P Morgan Chase & Co in a report on Thursday, July 6th. Finally, Oppenheimer Holdings, Inc. reissued a market perform rating on shares of J P Morgan Chase & Co in a report on Friday, July 21st. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $85.72.

Shares of J P Morgan Chase & Co (JPM) traded up 1.05% during midday trading on Tuesday, hitting $91.84. 1,946,634 shares of the stock were exchanged. The firm has a market cap of $323.14 billion, a P/E ratio of 13.55 and a beta of 1.19. J P Morgan Chase & Co has a 12-month low of $65.11 and a 12-month high of $95.22. The firm has a 50 day moving average of $91.94 and a 200 day moving average of $89.04.

J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.23. The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 earnings per share. Equities analysts forecast that J P Morgan Chase & Co will post $6.81 EPS for the current fiscal year.

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In other news, insider Nicole Giles sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $91.29, for a total value of $91,290.00. Following the completion of the sale, the insider now directly owns 3,783 shares of the company’s stock, valued at $345,350.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marianne Lake sold 17,596 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $91.58, for a total transaction of $1,611,441.68. The disclosure for this sale can be found here. Insiders have sold 28,564 shares of company stock valued at $2,605,334 over the last ninety days. Insiders own 0.88% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. raised its stake in J P Morgan Chase & Co by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,289 shares of the financial services provider’s stock worth $301,000 after buying an additional 12 shares during the period. IPG Investment Advisors LLC raised its stake in J P Morgan Chase & Co by 0.3% in the second quarter. IPG Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock worth $608,000 after buying an additional 17 shares during the period. Paradigm Financial Advisors LLC raised its stake in J P Morgan Chase & Co by 0.3% in the first quarter. Paradigm Financial Advisors LLC now owns 6,805 shares of the financial services provider’s stock worth $597,000 after buying an additional 21 shares during the period. BSW Wealth Partners raised its stake in J P Morgan Chase & Co by 0.5% in the first quarter. BSW Wealth Partners now owns 4,889 shares of the financial services provider’s stock worth $429,000 after buying an additional 26 shares during the period. Finally, Sunbelt Securities Inc. raised its stake in J P Morgan Chase & Co by 0.5% in the second quarter. Sunbelt Securities Inc. now owns 5,128 shares of the financial services provider’s stock worth $469,000 after buying an additional 26 shares during the period. 78.01% of the stock is owned by institutional investors and hedge funds.

J P Morgan Chase & Co Company Profile

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

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Analyst Recommendations for J P Morgan Chase & Co (NYSE:JPM)

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