J P Morgan Chase & Co (JPM) Downgraded to “Hold” at Vetr Inc.
Vetr lowered shares of J P Morgan Chase & Co (NYSE:JPM) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning. They currently have $93.14 price target on the financial services provider’s stock.
JPM has been the topic of several other research reports. Berenberg Bank set a $65.00 price objective on J P Morgan Chase & Co and gave the stock a sell rating in a report on Thursday, August 3rd. Wells Fargo & Company initiated coverage on J P Morgan Chase & Co in a report on Wednesday, August 9th. They set an outperform rating and a $110.00 price objective on the stock. Deutsche Bank AG restated a buy rating on shares of J P Morgan Chase & Co in a report on Monday, July 3rd. Bank of America Corporation restated a buy rating and set a $99.00 price objective on shares of J P Morgan Chase & Co in a report on Monday, July 17th. Finally, Goldman Sachs Group, Inc. (The) restated a neutral rating and set a $93.00 price objective on shares of J P Morgan Chase & Co in a report on Thursday, July 6th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and eighteen have given a buy rating to the stock. J P Morgan Chase & Co presently has an average rating of Hold and a consensus target price of $85.59.
Shares of J P Morgan Chase & Co (JPM) opened at 90.89 on Tuesday. The stock has a market cap of $319.80 billion, a P/E ratio of 13.41 and a beta of 1.19. The firm has a 50-day moving average price of $91.62 and a 200-day moving average price of $88.99. J P Morgan Chase & Co has a 52-week low of $65.11 and a 52-week high of $95.22.
J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter last year, the firm earned $1.55 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. On average, analysts anticipate that J P Morgan Chase & Co will post $6.81 EPS for the current fiscal year.
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In related news, CFO Marianne Lake sold 17,596 shares of J P Morgan Chase & Co stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $91.58, for a total value of $1,611,441.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 9,968 shares of J P Morgan Chase & Co stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $90.55, for a total value of $902,602.40. Following the completion of the transaction, the general counsel now owns 10,527 shares of the company’s stock, valued at $953,219.85. The disclosure for this sale can be found here. Insiders sold 28,564 shares of company stock valued at $2,605,334 over the last quarter. Insiders own 0.88% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Pacific Center for Financial Services grew its stake in J P Morgan Chase & Co by 14.5% in the first quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 177 shares in the last quarter. Atlantic Trust LLC acquired a new position in J P Morgan Chase & Co in the second quarter worth about $136,000. Horrell Capital Management Inc. grew its stake in J P Morgan Chase & Co by 5.0% in the first quarter. Horrell Capital Management Inc. now owns 1,647 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 78 shares in the last quarter. Ullmann Financial Group Inc. acquired a new position in J P Morgan Chase & Co in the first quarter worth about $148,000. Finally, Northwest Investment Counselors LLC acquired a new position in J P Morgan Chase & Co in the second quarter worth about $165,000. Institutional investors and hedge funds own 78.02% of the company’s stock.
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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