JPMorgan Chase & Co. (NYSE:JPM) Coverage Initiated at Truist Financial

Truist Financial started coverage on shares of JPMorgan Chase & Co. (NYSE:JPM) in a report released on Tuesday,Benzinga reports. The firm set a “hold” rating and a $260.00 price target on the financial services provider’s stock. Truist Financial’s price target indicates a potential upside of 6.98% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Royal Bank of Canada increased their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Evercore ISI raised their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Citigroup boosted their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $245.83.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $243.03 on Tuesday. The firm has a market capitalization of $684.21 billion, a PE ratio of 13.52, a PEG ratio of 3.54 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $164.30 and a 1 year high of $254.31. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm’s fifty day simple moving average is $240.83 and its 200 day simple moving average is $222.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same period last year, the business posted $4.33 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current 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. Geode Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 0.9% in the third quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock valued at $12,258,346,000 after buying an additional 505,830 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of JPMorgan Chase & Co. by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after purchasing an additional 1,040,594 shares during the period. Fisher Asset Management LLC boosted its position in shares of JPMorgan Chase & Co. by 31.7% in the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after purchasing an additional 4,043,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of JPMorgan Chase & Co. by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock worth $3,180,806,000 after purchasing an additional 302,592 shares during the period. Finally, Franklin Resources Inc. increased its holdings in JPMorgan Chase & Co. by 7.2% in the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after purchasing an additional 1,016,289 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

About JPMorgan Chase & Co.

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.