JPMorgan Chase & Co. (NYSE:JPM) Price Target Cut to $264.00 by Analysts at Truist Financial

JPMorgan Chase & Co. (NYSE:JPM) had its price objective reduced by stock analysts at Truist Financial from $268.00 to $264.00 in a report released on Friday,Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target indicates a potential upside of 25.66% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Barclays increased their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI cut their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Bank of America lowered their price target on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a report on Wednesday. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $215.00 to $220.00 in a report on Friday, March 7th. Finally, Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a research report on Friday, January 3rd. 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $254.83.

JPMorgan Chase & Co. Stock Down 8.1 %

JPM stock opened at $210.09 on Friday. The business’s 50-day moving average price is $254.71 and its 200-day moving average price is $241.51. The stock has a market cap of $587.43 billion, a P/E ratio of 10.64, a PEG ratio of 2.83 and a beta of 1.01. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a twelve month low of $179.20 and a twelve month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.04 earnings per share. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Activity

In related news, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now directly owns 54,469 shares of the company’s stock, valued at $14,698,459.65. This represents a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,848 shares of company stock valued at $19,987,908 in the last ninety days. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several hedge funds and other institutional investors have recently modified their holdings of JPM. Principal Financial Group Inc. boosted its position in JPMorgan Chase & Co. by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock valued at $1,228,110,000 after buying an additional 182,648 shares during the period. United Bank raised its stake in shares of JPMorgan Chase & Co. by 2.5% during the third quarter. United Bank now owns 25,354 shares of the financial services provider’s stock valued at $5,346,000 after acquiring an additional 614 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 13.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 42,511 shares of the financial services provider’s stock valued at $8,964,000 after purchasing an additional 5,152 shares during the period. Redwood Investment Management LLC grew its stake in JPMorgan Chase & Co. by 104.7% in the third quarter. Redwood Investment Management LLC now owns 3,969 shares of the financial services provider’s stock worth $837,000 after purchasing an additional 2,030 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc grew its stake in JPMorgan Chase & Co. by 6.6% in the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 52,029 shares of the financial services provider’s stock worth $10,971,000 after purchasing an additional 3,208 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

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.