JPMorgan Chase & Co. (JPM) Upgraded to “Buy” at Credit Suisse Group

Credit Suisse Group upgraded shares of JPMorgan Chase & Co. (NYSE:JPM) to a buy rating in a research report report published on Friday. The firm currently has $120.00 price target on the financial services provider’s stock.

Several other brokerages have also recently issued reports on JPM. Barclays increased their target price on shares of JPMorgan Chase & Co. from $105.00 to $132.00 and gave the stock an overweight rating in a report on Tuesday, January 2nd. Wells Fargo & Co set a $120.00 target price on shares of JPMorgan Chase & Co. and gave the stock a buy rating in a report on Wednesday, December 20th. Buckingham Research upgraded shares of JPMorgan Chase & Co. from a neutral rating to a buy rating in a report on Thursday, December 21st. Royal Bank of Canada reiterated a buy rating on shares of JPMorgan Chase & Co. in a report on Friday, December 8th. Finally, Keefe, Bruyette & Woods restated a hold rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 11th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have issued a buy rating to the stock. JPMorgan Chase & Co. has a consensus rating of Hold and an average target price of $93.63.

JPMorgan Chase & Co. (JPM) opened at $108.50 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.37. JPMorgan Chase & Co. has a 1-year low of $81.64 and a 1-year high of $110.03. The stock has a market cap of $376,470.00, a PE ratio of 15.57, a price-to-earnings-growth ratio of 2.04 and a beta of 1.22.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.09. JPMorgan Chase & Co. had a net margin of 24.08% and a return on equity of 11.68%. The company had revenue of $25.33 billion for the quarter, compared to analysts’ expectations of $24.91 billion. During the same period in the prior year, the business earned $1.58 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. equities analysts anticipate that JPMorgan Chase & Co. will post 6.91 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 5th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, January 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 32.14%.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,099 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $101.96, for a total transaction of $214,014.04. Following the completion of the transaction, the general counsel now directly owns 15,279 shares of the company’s stock, valued at approximately $1,557,846.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.88% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC grew its stake in shares of JPMorgan Chase & Co. by 517.3% during the 2nd quarter. Janus Henderson Group PLC now owns 5,553,819 shares of the financial services provider’s stock worth $507,632,000 after purchasing an additional 4,654,113 shares during the period. Stifel Financial Corp grew its stake in shares of JPMorgan Chase & Co. by 9,301.6% during the 3rd quarter. Stifel Financial Corp now owns 4,351,736 shares of the financial services provider’s stock worth $415,662,000 after purchasing an additional 4,305,449 shares during the period. Alliancebernstein L.P. grew its stake in shares of JPMorgan Chase & Co. by 29.2% during the 2nd quarter. Alliancebernstein L.P. now owns 17,456,699 shares of the financial services provider’s stock worth $1,595,542,000 after purchasing an additional 3,945,948 shares during the period. Vanguard Group Inc. grew its stake in shares of JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 249,887,622 shares of the financial services provider’s stock worth $22,839,729,000 after purchasing an additional 3,717,683 shares during the period. Finally, Parametric Portfolio Associates LLC grew its stake in shares of JPMorgan Chase & Co. by 40.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 9,769,017 shares of the financial services provider’s stock worth $892,886,000 after purchasing an additional 2,828,726 shares during the period. 73.76% of the stock is owned by 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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