BidaskClub Lowers J P Morgan Chase & Co (JPM) to Sell

BidaskClub cut shares of J P Morgan Chase & Co (NYSE:JPM) from a hold rating to a sell rating in a report released on Tuesday, August 1st.

Several other analysts also recently commented on JPM. Vetr upgraded J P Morgan Chase & Co from a buy rating to a strong-buy rating and set a $97.82 target price for the company in a research note on Tuesday, April 4th. Keefe, Bruyette & Woods restated a market perform rating and issued a $47.00 target price on shares of J P Morgan Chase & Co in a research note on Friday, April 14th. Nomura restated a neutral rating and issued a $83.00 target price on shares of J P Morgan Chase & Co in a research note on Monday, April 17th. Guggenheim upgraded J P Morgan Chase & Co from a neutral rating to a buy rating and raised their target price for the company from $88.25 to $96.00 in a research note on Tuesday, April 25th. Finally, Vining Sparks upgraded J P Morgan Chase & Co to an outperform rating and set a $95.00 price target for the company in a research note on Thursday, April 27th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $85.53.

J P Morgan Chase & Co (JPM) opened at 90.74 on Tuesday. The firm has a 50-day moving average price of $92.32 and a 200-day moving average price of $88.70. J P Morgan Chase & Co has a 1-year low of $64.86 and a 1-year high of $95.22. The firm has a market capitalization of $319.27 billion, a PE ratio of 13.39 and a beta of 1.19.

J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the company posted $1.55 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. Equities analysts expect that J P Morgan Chase & Co will post $6.81 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “BidaskClub Lowers J P Morgan Chase & Co (JPM) to Sell” was first published by BNB Daily and is the sole property of of BNB Daily. If you are viewing this story on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright legislation. The original version of this story can be accessed at https://www.baseball-news-blog.com/2017/08/19/j-p-morgan-chase-co-jpm-downgraded-by-bidaskclub-updated-updated.html.

In related news, insider Nicole Giles sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $91.29, for a total value of $91,290.00. Following the completion of the transaction, the insider now directly owns 3,783 shares in the company, valued at $345,350.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marianne Lake sold 17,596 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $91.58, for a total transaction of $1,611,441.68. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. 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 period. State Street Corp raised its position in shares of J P Morgan Chase & Co by 0.8% in the first quarter. State Street Corp now owns 170,534,760 shares of the financial services provider’s stock valued at $14,979,775,000 after buying an additional 1,357,194 shares during the period. Northern Trust Corp raised its position in shares of J P Morgan Chase & Co by 1.8% in the second quarter. Northern Trust Corp now owns 48,965,734 shares of the financial services provider’s stock valued at $4,475,468,000 after buying an additional 847,463 shares during the period. Norges Bank bought a new position in shares of J P Morgan Chase & Co during the fourth quarter valued at about $2,897,377,000. Finally, Capital Research Global Investors raised its position in shares of J P Morgan Chase & Co by 2.5% in the second quarter. Capital Research Global Investors now owns 31,714,763 shares of the financial services provider’s stock valued at $2,898,729,000 after buying an additional 765,082 shares during the period. Institutional investors own 74.84% of the company’s stock.

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)

Receive News & Ratings for J P Morgan Chase & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J P Morgan Chase & Co and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply