Wells Fargo & Co Reiterates $130.00 Price Target for JPMorgan Chase & Co. (JPM)

Wells Fargo & Co set a $130.00 price target on JPMorgan Chase & Co. (NYSE:JPM) in a report issued on Wednesday. The brokerage currently has a buy rating on the financial services provider’s stock.

JPM has been the topic of a number of other reports. Keefe, Bruyette & Woods reissued a hold rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 11th. Deutsche Bank cut JPMorgan Chase & Co. from a buy rating to a hold rating and increased their target price for the stock from $90.00 to $96.00 in a research note on Tuesday, September 26th. Vining Sparks reissued a buy rating and issued a $120.00 target price on shares of JPMorgan Chase & Co. in a research note on Friday, January 12th. Robert W. Baird reissued a hold rating and issued a $88.00 target price on shares of JPMorgan Chase & Co. in a research note on Thursday, September 21st. Finally, Royal Bank of Canada reissued a buy rating on shares of JPMorgan Chase & Co. in a research note on Friday, December 8th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the stock. JPMorgan Chase & Co. has a consensus rating of Hold and an average target price of $105.81.

Shares of JPMorgan Chase & Co. (NYSE:JPM) traded down $0.25 during mid-day trading on Wednesday, reaching $113.01. The company had a trading volume of 18,716,039 shares, compared to its average volume of 14,000,000. JPMorgan Chase & Co. has a 12 month low of $81.64 and a 12 month high of $114.34. The stock has a market capitalization of $392,110.00, a PE ratio of 17.71, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.01.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, January 12th. The financial services provider reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.07. JPMorgan Chase & Co. had a return on equity of 11.63% and a net margin of 21.46%. The firm had revenue of $24.15 billion for the quarter, compared to analysts’ expectations of $24.87 billion. During the same period in the prior year, the firm posted $1.71 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. equities research analysts predict that JPMorgan Chase & Co. will post 8.78 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 5th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, January 4th. JPMorgan Chase & Co.’s payout ratio is currently 35.11%.

In other news, EVP Peter Scher sold 17,057 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $112.20, for a total transaction of $1,913,795.40. Following the transaction, the executive vice president now directly owns 15,310 shares of the company’s stock, valued at $1,717,782. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 2,099 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $101.96, for a total value of $214,014.04. Following the transaction, the general counsel now directly owns 15,279 shares in the company, valued at $1,557,846.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 154,146 shares of company stock worth $17,312,129. Corporate insiders own 0.88% of the company’s stock.

Large investors have recently made changes to their positions in the company. David R. Rahn & Associates Inc. bought a new position in JPMorgan Chase & Co. in the second quarter valued at about $1,458,000. Ironwood Investment Management LLC grew its position in shares of JPMorgan Chase & Co. by 61.9% during the second quarter. Ironwood Investment Management LLC now owns 6,668 shares of the financial services provider’s stock worth $609,000 after purchasing an additional 2,550 shares in the last quarter. Gamble Jones Investment Counsel grew its position in shares of JPMorgan Chase & Co. by 0.6% during the second quarter. Gamble Jones Investment Counsel now owns 49,959 shares of the financial services provider’s stock worth $4,566,000 after purchasing an additional 276 shares in the last quarter. Grove Bank & Trust grew its position in shares of JPMorgan Chase & Co. by 16.9% during the second quarter. Grove Bank & Trust now owns 9,787 shares of the financial services provider’s stock worth $895,000 after purchasing an additional 1,417 shares in the last quarter. Finally, Lee Danner & Bass Inc. grew its position in shares of JPMorgan Chase & Co. by 0.4% during the second quarter. Lee Danner & Bass Inc. now owns 17,494 shares of the financial services provider’s stock worth $1,599,000 after purchasing an additional 69 shares in the last quarter. 73.78% of the stock is currently owned by hedge funds and other institutional investors.

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About JPMorgan 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 JPMorgan Chase & Co. (NYSE:JPM)

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