JPMorgan Chase & Co. (NYSE:JPM) Cut to Hold at Zacks Investment Research

JPMorgan Chase & Co. (NYSE:JPM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. They presently have a $173.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 7.86% from the stock’s previous close.

According to Zacks, “JPMorgan's shares have outperformed the industry over the past 12 months. The company has an impressive earnings surprise history. The company's earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters. Branch openings in new regions, inorganic expansion strategies and strong mortgage banking business are expected to keep aiding financials in the upcoming quarters. Also, JPMorgan's impressive capital deployments reflect earnings strength and solid balance sheet and will enhance shareholder value. While robust economic recovery will likely lead to rise in demand for loans, coronavirus-induced economic downturn that hampered business activities continues to hurt loan demand. The Federal Reserve's accommodative policy and near-zero rates are likely to hamper interest income and margins, going forward.”

JPM has been the topic of several other reports. DA Davidson upped their price objective on shares of JPMorgan Chase & Co. from $179.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, April 15th. Jefferies Financial Group increased their price target on shares of JPMorgan Chase & Co. from $157.00 to $177.00 and gave the stock a “buy” rating in a report on Friday, April 9th. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $195.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday. Royal Bank of Canada increased their price target on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, April 15th. Finally, Atlantic Securities reissued a “neutral” rating and set a $150.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, May 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $151.79.

JPM stock opened at $160.40 on Wednesday. The company has a fifty day simple moving average of $158.15. The stock has a market cap of $485.55 billion, a P/E ratio of 12.74, a P/E/G ratio of 2.48 and a beta of 1.21. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.84 and a quick ratio of 0.84. JPMorgan Chase & Co. has a 12 month low of $90.78 and a 12 month high of $167.44.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, April 13th. The financial services provider reported $4.50 EPS for the quarter, beating the consensus estimate of $3.10 by $1.40. The business had revenue of $32.30 billion for the quarter, compared to the consensus estimate of $29.97 billion. JPMorgan Chase & Co. had a net margin of 31.15% and a return on equity of 16.66%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 EPS. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 13.35 earnings per share for the current year.

In other news, insider Ashley Bacon sold 11,930 shares of the firm’s stock in a transaction that occurred on Thursday, April 15th. The shares were sold at an average price of $150.91, for a total value of $1,800,356.30. Also, CEO Mary E. Erdoes sold 19,188 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, April 15th. The stock was sold at an average price of $150.90, for a total transaction of $2,895,469.20. In the last three months, insiders sold 61,130 shares of company stock valued at $9,224,636. Insiders own 0.79% of the company’s stock.

A number of institutional investors have recently modified their holdings of JPM. Norges Bank purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $3,501,714,000. Sanders Capital LLC lifted its stake in JPMorgan Chase & Co. by 364.4% in the fourth quarter. Sanders Capital LLC now owns 12,191,489 shares of the financial services provider’s stock worth $1,661,572,000 after acquiring an additional 9,566,427 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in JPMorgan Chase & Co. by 22.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,288,837 shares of the financial services provider’s stock worth $3,848,803,000 after acquiring an additional 5,610,076 shares during the last quarter. Capital International Investors lifted its stake in JPMorgan Chase & Co. by 7.8% in the first quarter. Capital International Investors now owns 38,321,985 shares of the financial services provider’s stock worth $5,834,601,000 after acquiring an additional 2,769,555 shares during the last quarter. Finally, Morgan Stanley lifted its stake in JPMorgan Chase & Co. by 5.5% in the fourth quarter. Morgan Stanley now owns 39,207,003 shares of the financial services provider’s stock worth $4,982,034,000 after acquiring an additional 2,044,249 shares during the last quarter. Institutional investors own 70.56% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates in four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

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