JPMorgan Chase & Co. (NYSE:JPM) Given New $284.00 Price Target at Bank of America

JPMorgan Chase & Co. (NYSE:JPM) had its target price dropped by equities research analysts at Bank of America from $285.00 to $284.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price target indicates a potential upside of 16.60% from the stock’s previous close.

Several other equities analysts also recently commented on JPM. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their target price for the company from $215.00 to $220.00 in a research report on Friday, March 7th. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a report on Friday, January 3rd. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Barclays raised their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $255.06.

JPMorgan Chase & Co. Trading Down 0.7 %

JPM stock opened at $243.58 on Wednesday. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25. The stock has a market cap of $681.06 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The company has a fifty day moving average price of $256.88 and a two-hundred day moving average price of $241.33. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter in the previous year, the firm posted $3.04 EPS. JPMorgan Chase & Co.’s revenue was up 10.9% compared to the same quarter last year. Equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Buying and Selling

In related news, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the transaction, the insider now directly owns 50,377 shares in the company, valued at $13,606,323.93. This represents a 2.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock worth $19,987,908 in the last ninety days. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Centre Asset Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at about $5,534,000. Trust Co of the South boosted its position in JPMorgan Chase & Co. by 10.2% during the 1st quarter. Trust Co of the South now owns 6,293 shares of the financial services provider’s stock worth $1,544,000 after buying an additional 582 shares during the period. Modus Advisors LLC grew its holdings in JPMorgan Chase & Co. by 1.4% during the 1st quarter. Modus Advisors LLC now owns 27,046 shares of the financial services provider’s stock worth $6,634,000 after acquiring an additional 384 shares during the last quarter. Milestone Asset Management Group LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $203,000. Finally, Higgins & Schmidt Wealth Strategies LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $217,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.