J P Morgan Chase & Co (JPM) Given New $103.00 Price Target at Credit Suisse Group

J P Morgan Chase & Co (NYSE:JPM) had its price target lifted by Credit Suisse Group from $102.00 to $103.00 in a research note released on Friday. Credit Suisse Group currently has an outperform rating on the financial services provider’s stock.

JPM has been the topic of a number of other research reports. Rafferty Capital Markets reissued a buy rating and issued a $97.00 price target (up previously from $96.00) on shares of J P Morgan Chase & Co in a research note on Tuesday, March 21st. Barclays PLC reissued an overweight rating and issued a $100.00 price target on shares of J P Morgan Chase & Co in a research note on Monday, March 20th. Vetr raised shares of J P Morgan Chase & Co from a buy rating to a strong-buy rating and set a $97.82 price target on the stock in a research note on Tuesday, April 4th. Deutsche Bank AG reissued a buy rating on shares of J P Morgan Chase & Co in a research note on Monday, July 3rd. Finally, Keefe, Bruyette & Woods reissued a market perform rating and issued a $47.00 price target on shares of J P Morgan Chase & Co in a research note on Friday, April 14th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $84.75.

Shares of J P Morgan Chase & Co (NYSE:JPM) traded down 0.93% on Friday, reaching $91.39. 14,374,219 shares of the company were exchanged. J P Morgan Chase & Co has a 52 week low of $63.38 and a 52 week high of $94.51. The company’s 50-day moving average is $85.98 and its 200-day moving average is $87.09. The company has a market capitalization of $324.65 billion, a price-to-earnings ratio of 14.07 and a beta of 1.19.

J P Morgan Chase & Co (NYSE:JPM) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.23. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter last year, the company earned $1.55 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities analysts expect that J P Morgan Chase & Co will post $6.63 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Monday, July 3rd. J P Morgan Chase & Co’s dividend payout ratio is currently 29.59%.

In other news, Director James S. Crown bought 11,500 shares of the company’s stock in a transaction on Wednesday, April 19th. The stock was bought at an average cost of $85.48 per share, with a total value of $983,020.00. Following the transaction, the director now directly owns 299,862 shares in the company, valued at approximately $25,632,203.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Marianne Lake sold 17,596 shares of J P Morgan Chase & Co stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $91.58, for a total value of $1,611,441.68. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in JPM. Hudson Valley Investment Advisors Inc. ADV increased its position in J P Morgan Chase & Co by 2.1% in the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 95,795 shares of the financial services provider’s stock valued at $8,756,000 after buying an additional 1,937 shares in the last quarter. Watch Point Trust Co increased its position in J P Morgan Chase & Co by 4.7% in the second quarter. Watch Point Trust Co now owns 32,692 shares of the financial services provider’s stock valued at $2,988,000 after buying an additional 1,455 shares in the last quarter. Canal Capital Management LLC purchased a new position in J P Morgan Chase & Co during the second quarter valued at $1,679,000. TNB Financial increased its position in J P Morgan Chase & Co by 10.5% in the second quarter. TNB Financial now owns 29,638 shares of the financial services provider’s stock valued at $2,709,000 after buying an additional 2,808 shares in the last quarter. Finally, BerganKDV Wealth Management LLC increased its position in J P Morgan Chase & Co by 1.2% in the second quarter. BerganKDV Wealth Management LLC now owns 8,393 shares of the financial services provider’s stock valued at $767,000 after buying an additional 100 shares in the last quarter. 74.25% of the stock is owned by institutional investors.

J P Morgan Chase & Co Company Profile

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.

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