Evercore Cuts JPMorgan Chase & Co. (NYSE:JPM) Price Target to $320.00

JPMorgan Chase & Co. (NYSE:JPM) had its price objective lowered by Evercore from $350.00 to $320.00 in a research report released on Monday morning,MarketScreener reports. Evercore currently has an outperform rating on the financial services provider’s stock.

JPM has been the subject of a number of other research reports. Truist Financial decreased their target price on shares of JPMorgan Chase & Co. from $334.00 to $330.00 in a research report on Wednesday, February 25th. Robert W. Baird increased their target price on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, March 4th. Freedom Capital upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a research report on Wednesday, January 14th. HSBC decreased their target price on shares of JPMorgan Chase & Co. from $319.00 to $288.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. Finally, Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $333.17.

JPMorgan Chase & Co. Stock Up 3.6%

JPM stock opened at $308.16 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a fifty-two week low of $211.00 and a fifty-two week high of $337.25. The firm’s 50-day simple moving average is $298.92 and its 200 day simple moving average is $306.89. The stock has a market cap of $831.12 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, January 13th. The financial services provider reported $5.23 earnings per share for the quarter, topping analysts’ consensus estimates of $4.93 by $0.30. JPMorgan Chase & Co. had a net margin of 20.35% and a return on equity of 17.16%. The business had revenue of $45.80 billion for the quarter, compared to analysts’ expectations of $45.98 billion. During the same quarter last year, the company earned $4.81 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, April 6th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, April 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.99%.

Insider Activity at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 2,893 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $312.79, for a total transaction of $904,901.47. Following the completion of the transaction, the chief financial officer owned 26,696 shares in the company, valued at approximately $8,350,241.84. This trade represents a 9.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the transaction, the chief executive officer owned 111,279 shares of the company’s stock, valued at approximately $34,174,893.69. This trade represents a 31.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 72,029 shares of company stock worth $22,195,693. Company insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several large investors have recently made changes to their positions in the business. Morgan Stanley boosted its holdings in shares of JPMorgan Chase & Co. by 1.4% in the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after buying an additional 939,421 shares during the period. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $11,396,496,000. Bank of New York Mellon Corp boosted its holdings in shares of JPMorgan Chase & Co. by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock worth $7,547,837,000 after buying an additional 1,194,583 shares during the period. Legal & General Group Plc boosted its holdings in shares of JPMorgan Chase & Co. by 0.6% in the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock worth $6,128,484,000 after buying an additional 110,586 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock worth $5,161,532,000 after buying an additional 296,213 shares during the period. Institutional investors own 71.55% of the company’s stock.

Trending Headlines about JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: Geo-political ceasefire eased oil and rate-hike worries, pushing global bond yields lower — a tailwind for banks’ trading and market businesses and lowering recession/rate-risk premium. Global Bonds Jump as Ceasefire Sows Doubts Over Steep Rate Hikes
• Positive Sentiment: Analysts are updating forecasts ahead of Q1 — several accurate forecasters nudged estimates higher and highlighted JPMorgan’s strong mix (wealth, payments, card partnerships) as supportive of an earnings beat. JPMorgan Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Positive Sentiment: Product/technology initiatives — JPM Coin pilots in Argentina and Jamie Dimon’s push to roll out blockchain/internal token infrastructure and embrace Solana point to potential efficiency gains and new institutional product revenue. Argentine banks testing JPMorgan’s JPM Coin to speed up settlements: Report
• Neutral Sentiment: Q1 earnings preview — JPMorgan reports April 14; street expectations (consensus EPS/revenue) leave scope for volatility depending on net interest income trajectory, trading revenue and credit costs. The upcoming print is the main near-term catalyst. JPMorgan Chase & Co. (JPM) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Negative Sentiment: Some sell-side shops are more cautious: Piper Sandler and other analysts have trimmed targets or warned on weaker near-term earnings forecasts, which can cap upside if guidance is soft. Piper Sandler Remains Cautious on JPMorgan (JPM) Amid Weaker Earnings Forecasts
• Negative Sentiment: CEO Jamie Dimon’s shareholder letter flagged risks — private-credit vulnerabilities and the potential for renewed inflation if Middle East tensions flare — reminders that upside from the ceasefire is conditional and that higher oil/inflation would be a headwind. Jamie Dimon: Iran war could reignite inflation and keep Fed rates higher for longer

About JPMorgan Chase & Co.

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.