JPMorgan Chase & Co. (NYSE:JPM) Shares Down 0.2% Following Analyst Downgrade

Shares of JPMorgan Chase & Co. (NYSE:JPM) were down 0.2% during mid-day trading on Friday after Morgan Stanley lowered their price target on the stock from $226.00 to $220.00. Morgan Stanley currently has an overweight rating on the stock. JPMorgan Chase & Co. traded as low as $205.54 and last traded at $206.17. Approximately 2,296,977 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 9,108,462 shares. The stock had previously closed at $206.60.

Several other analysts also recently weighed in on the stock. Barclays lifted their target price on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Evercore ISI boosted their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Oppenheimer lifted their target price on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.06.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Wealth Strategies LLC. acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at $1,145,000. Cooper Financial Group grew its stake in shares of JPMorgan Chase & Co. by 12.8% in the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after buying an additional 984 shares in the last quarter. Spartan Planning & Wealth Management increased its stake in JPMorgan Chase & Co. by 257.3% during the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock worth $643,000 after buying an additional 2,722 shares during the period. jvl associates llc increased its holdings in JPMorgan Chase & Co. by 59.8% during the 1st quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 715 shares during the last quarter. Finally, MMA Asset Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $207,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

The stock has a market capitalization of $584.82 billion, a P/E ratio of 11.50, a PEG ratio of 2.33 and a beta of 1.12. The company has a 50 day moving average of $211.35 and a 200-day moving average of $200.65. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter in the prior year, the firm earned $4.37 EPS. Sell-side analysts predict that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.