JPMorgan Chase & Co. (NYSE:JPM) Rating Lowered to Equal Weight at Morgan Stanley

JPMorgan Chase & Co. (NYSE:JPM) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Monday, MarketBeat reports. They presently have a $224.00 price objective on the financial services provider’s stock, up from their prior price objective of $220.00. Morgan Stanley’s price target would indicate a potential upside of 8.19% from the stock’s previous close.

JPM has been the subject of several other reports. Barclays increased their target price on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Oppenheimer lifted their price target on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Jefferies Financial Group increased their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Citigroup raised their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $207.04 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a market cap of $594.55 billion, a P/E ratio of 11.55, a P/E/G ratio of 2.39 and a beta of 1.12. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. The business has a fifty day simple moving average of $211.42 and a 200 day simple moving average of $202.85.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter in the previous year, the firm posted $4.37 earnings per share. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

Institutional Trading of JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JPM. Wellington Wealth Strategies LLC. bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at $1,145,000. Cooper Financial Group grew its position in JPMorgan Chase & Co. by 12.8% in the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock worth $1,741,000 after purchasing an additional 984 shares in the last quarter. Spartan Planning & Wealth Management grew its position in JPMorgan Chase & Co. by 257.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock worth $643,000 after purchasing an additional 2,722 shares in the last quarter. jvl associates llc increased its stake in JPMorgan Chase & Co. by 59.8% in the 1st quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after buying an additional 715 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV lifted its position in shares of JPMorgan Chase & Co. by 1.3% during the 1st quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock worth $5,201,000 after buying an additional 330 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

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.