J P Morgan Chase & Co (JPM) Stock Rating Reaffirmed by Credit Suisse Group

Credit Suisse Group reissued their buy rating on shares of J P Morgan Chase & Co (NYSE:JPM) in a research report report published on Monday. They currently have a $110.00 price target on the financial services provider’s stock, up from their previous price target of $103.00. The analysts noted that the move was a valuation call.

Several other equities analysts have also recently issued reports on the stock. Citigroup Inc. upped their price target on shares of J P Morgan Chase & Co from $90.00 to $96.00 and gave the company a neutral rating in a research report on Friday, October 6th. Deutsche Bank AG cut shares of J P Morgan Chase & Co from a buy rating to a hold rating and upped their price target for the company from $90.00 to $96.00 in a research report on Tuesday, September 26th. Robert W. Baird restated a hold rating and issued a $88.00 price target on shares of J P Morgan Chase & Co in a research report on Thursday, September 21st. Jefferies Group LLC restated a buy rating and issued a $102.00 price target on shares of J P Morgan Chase & Co in a research report on Friday, September 15th. Finally, Vetr cut shares of J P Morgan Chase & Co from a buy rating to a hold rating and set a $93.14 price target for the company. in a research report on Tuesday, September 12th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $88.87.

J P Morgan Chase & Co (NYSE JPM) opened at 95.99 on Monday. J P Morgan Chase & Co has a 1-year low of $66.74 and a 1-year high of $97.64. The company has a market cap of $337.74 billion, a PE ratio of 14.16 and a beta of 1.18. The stock has a 50 day moving average of $93.35 and a 200-day moving average of $89.70.

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, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.10. 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 $25.33 billion during the quarter, compared to analysts’ expectations of $24.91 billion. During the same period in the prior year, the company posted $1.58 EPS. The company’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts predict that J P Morgan Chase & Co will post $6.79 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 6th will be given a dividend of $0.56 per share. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Thursday, October 5th. J P Morgan Chase & Co’s dividend payout ratio (DPR) is presently 33.14%.

In related news, General Counsel Stacey Friedman sold 9,968 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $90.55, for a total transaction of $902,602.40. Following the transaction, the general counsel now directly owns 10,527 shares of the company’s stock, valued at $953,219.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marianne Lake sold 17,596 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were 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. Insiders have sold 28,564 shares of company stock worth $2,605,334 over the last three months. 0.88% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amarillo National Bank lifted its position in shares of J P Morgan Chase & Co by 19.6% during the third quarter. Amarillo National Bank now owns 24,381 shares of the financial services provider’s stock valued at $2,329,000 after purchasing an additional 4,003 shares in the last quarter. Beacon Financial Group lifted its position in shares of J P Morgan Chase & Co by 17.8% during the third quarter. Beacon Financial Group now owns 6,082 shares of the financial services provider’s stock valued at $581,000 after purchasing an additional 921 shares in the last quarter. McQueen Ball & Associates Inc. lifted its position in shares of J P Morgan Chase & Co by 3.7% during the third quarter. McQueen Ball & Associates Inc. now owns 39,596 shares of the financial services provider’s stock valued at $3,782,000 after purchasing an additional 1,398 shares in the last quarter. Curbstone Financial Management Corp lifted its position in shares of J P Morgan Chase & Co by 86.9% during the third quarter. Curbstone Financial Management Corp now owns 28,594 shares of the financial services provider’s stock valued at $2,731,000 after purchasing an additional 13,297 shares in the last quarter. Finally, MPS Loria Financial Planners LLC bought a new position in shares of J P Morgan Chase & Co during the second quarter valued at about $296,000. 77.89% 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.

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