J P Morgan Chase & Co (JPM) Receives Buy Rating from Credit Suisse Group

J P Morgan Chase & Co (NYSE:JPM)‘s stock had its “buy” rating reissued by analysts at Credit Suisse Group in a note issued to investors on Monday, October 9th. They presently have a $110.00 price objective on the financial services provider’s stock, up from their prior price objective of $103.00. Credit Suisse Group’s price target would indicate a potential upside of 10.54% from the company’s previous close. The analysts noted that the move was a valuation call.

JPM has been the subject of a number of other research reports. Berenberg Bank set a $65.00 price objective on shares of J P Morgan Chase & Co and gave the stock a “sell” rating in a research report on Thursday, August 3rd. Wells Fargo & Company initiated coverage on shares of J P Morgan Chase & Co in a research report on Wednesday, August 9th. They set an “outperform” rating and a $110.00 price objective for the company. Deutsche Bank AG reaffirmed a “buy” rating on shares of J P Morgan Chase & Co in a research report on Monday, July 3rd. Bank of America Corporation reaffirmed a “buy” rating and set a $99.00 price objective on shares of J P Morgan Chase & Co in a research report on Monday, July 17th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $93.00 price objective on shares of J P Morgan Chase & Co in a research report on Thursday, July 6th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. J P Morgan Chase & Co presently has a consensus rating of “Hold” and a consensus target price of $91.66.

J P Morgan Chase & Co (NYSE:JPM) traded up 1.43% during mid-day trading on Monday, hitting $99.51. The company had a trading volume of 15,326,608 shares. The company has a market capitalization of $351.74 billion, a price-to-earnings ratio of 14.34 and a beta of 1.18. The firm’s 50 day moving average is $94.45 and its 200 day moving average is $90.12. J P Morgan Chase & Co has a 52 week low of $67.64 and a 52 week high of $99.89.

J P Morgan Chase & Co (NYSE:JPM) last announced its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.09. The business had revenue of $25.33 billion during the quarter, compared to the consensus estimate of $24.91 billion. J P Morgan Chase & Co had a net margin of 24.08% and a return on equity of 11.68%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 EPS. On average, equities research analysts predict that J P Morgan Chase & Co will post $6.90 EPS for the current year.

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In other J P Morgan Chase & Co news, General Counsel Stacey Friedman sold 9,968 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $90.55, for a total value of $902,602.40. Following the sale, the general counsel now owns 10,527 shares of the company’s stock, valued at $953,219.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC raised its position in shares of J P Morgan Chase & Co by 517.3% in the second quarter. Janus Henderson Group PLC now owns 5,553,819 shares of the financial services provider’s stock valued at $507,632,000 after buying an additional 4,654,113 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of J P Morgan Chase & Co by 29.2% in the second quarter. Alliancebernstein L.P. now owns 17,456,699 shares of the financial services provider’s stock valued at $1,595,542,000 after buying an additional 3,945,948 shares during the last quarter. Vanguard Group Inc. raised its position in shares of J P Morgan Chase & Co by 1.5% in the second quarter. Vanguard Group Inc. now owns 249,887,622 shares of the financial services provider’s stock valued at $22,839,729,000 after buying an additional 3,717,683 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of J P Morgan Chase & Co by 40.8% in the second quarter. Parametric Portfolio Associates LLC now owns 9,769,017 shares of the financial services provider’s stock valued at $892,886,000 after buying an additional 2,828,726 shares during the last quarter. Finally, Harbour Capital Advisors LLC raised its position in shares of J P Morgan Chase & Co by 8,767.4% in the second quarter. Harbour Capital Advisors LLC now owns 2,794,464 shares of the financial services provider’s stock valued at $30,574,000 after buying an additional 2,762,950 shares during the last quarter. 77.87% of the stock is currently owned by institutional investors.

About J P Morgan Chase & Co

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

Analyst Recommendations for J P Morgan Chase & Co (NYSE:JPM)

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