JPMorgan Chase & Co. (JPM) Given Buy Rating at Vining Sparks
Vining Sparks reiterated their buy rating on shares of JPMorgan Chase & Co. (NYSE:JPM) in a report released on Friday morning. Vining Sparks currently has a $120.00 target price on the financial services provider’s stock.
“JPM continues to demonstrate its strong underlying fundamentals as its profitability remains well above the other Money Center Banks. Therefore, we believe that its current P/TBV multiple of 209% should experience modest expansion towards 215% over the next 12 months, as capital markets activities eventually rebound, tax reform is realized, and short-term interest rates continue normalizing. This should enable JPM to improve its operating return on tangible common equity (ROTCE) by 3 full percentage points in 2018E. We believe this modest multiple expansion paired with mid-single digit TBV growth should allow JPM to outperform the S&P 500 in 2018E.”,” Vining Sparks’ analyst commented.
Other equities research analysts have also issued research reports about the stock. Jefferies Group set a $111.00 price objective on shares of JPMorgan Chase & Co. and gave the company a buy rating in a research note on Friday, October 13th. Nomura set a $115.00 price objective on shares of JPMorgan Chase & Co. and gave the company a neutral rating in a research note on Friday. BMO Capital Markets increased their price objective on shares of JPMorgan Chase & Co. from $86.00 to $91.00 and gave the company a market perform rating in a research note on Friday, October 13th. Buckingham Research upgraded shares of JPMorgan Chase & Co. from a neutral rating to a buy rating in a research note on Thursday, December 21st. Finally, Robert W. Baird increased their price objective on shares of JPMorgan Chase & Co. from $88.00 to $92.00 and gave the company a neutral rating in a research note on Friday, October 13th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company’s stock. JPMorgan Chase & Co. has a consensus rating of Hold and a consensus target price of $102.52.
JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.07. The firm had revenue of $24.15 billion during the quarter, compared to analyst estimates of $24.87 billion. JPMorgan Chase & Co. had a net margin of 21.46% and a return on equity of 11.63%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $1.71 EPS. analysts expect that JPMorgan Chase & Co. will post 8.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 5th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, January 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 35.11%.
In related news, General Counsel Stacey Friedman sold 2,099 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $101.96, for a total value of $214,014.04. Following the completion of the transaction, the general counsel now directly owns 15,279 shares of the company’s stock, valued at approximately $1,557,846.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.88% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. David R. Rahn & Associates Inc. bought a new position in JPMorgan Chase & Co. in the 2nd quarter worth approximately $1,458,000. Ironwood Investment Management LLC boosted its holdings in JPMorgan Chase & Co. by 61.9% in the 2nd quarter. Ironwood Investment Management LLC now owns 6,668 shares of the financial services provider’s stock worth $609,000 after buying an additional 2,550 shares during the period. Gamble Jones Investment Counsel boosted its holdings in JPMorgan Chase & Co. by 0.6% in the 2nd quarter. Gamble Jones Investment Counsel now owns 49,959 shares of the financial services provider’s stock worth $4,566,000 after buying an additional 276 shares during the period. Grove Bank & Trust boosted its holdings in JPMorgan Chase & Co. by 16.9% in the 2nd quarter. Grove Bank & Trust now owns 9,787 shares of the financial services provider’s stock valued at $895,000 after purchasing an additional 1,417 shares during the period. Finally, Lee Danner & Bass Inc. boosted its holdings in JPMorgan Chase & Co. by 0.4% in the 2nd quarter. Lee Danner & Bass Inc. now owns 17,494 shares of the financial services provider’s stock valued at $1,599,000 after purchasing an additional 69 shares during the period. 73.78% of the stock is owned by institutional investors.
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About JPMorgan Chase & Co.
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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