JPMorgan Chase & Co. (JPM) Price Target Cut to $128.00 by Analysts at Credit Suisse Group

JPMorgan Chase & Co. (NYSE:JPM) had its price target lowered by Credit Suisse Group from $130.00 to $128.00 in a report issued on Friday, The Fly reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other equities analysts have also commented on JPM. Zacks Investment Research raised JPMorgan Chase & Co. from a hold rating to a buy rating and set a $127.00 price target for the company in a research note on Friday, September 14th. Bank of America increased their price target on JPMorgan Chase & Co. from $126.00 to $132.00 and gave the company a buy rating in a research note on Monday, September 17th. Wolfe Research initiated coverage on JPMorgan Chase & Co. in a research note on Tuesday, September 25th. They set an outperform rating for the company. Citigroup raised their price objective on JPMorgan Chase & Co. from $115.00 to $125.00 and gave the company a neutral rating in a research note on Wednesday, September 26th. Finally, Goldman Sachs Group set a $130.00 price objective on JPMorgan Chase & Co. and gave the company a neutral rating in a research note on Friday, October 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $123.64.

JPMorgan Chase & Co. stock traded down $1.90 during midday trading on Friday, reaching $103.29. 19,246,566 shares of the stock traded hands, compared to its average volume of 13,625,635. JPMorgan Chase & Co. has a 12 month low of $102.20 and a 12 month high of $119.33. The firm has a market cap of $361.01 billion, a PE ratio of 15.03, a PEG ratio of 1.70 and a beta of 1.10. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.17.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 12th. The financial services provider reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.10. JPMorgan Chase & Co. had a return on equity of 13.90% and a net margin of 23.39%. The company had revenue of $27.26 billion during the quarter, compared to analyst estimates of $27.20 billion. During the same period in the prior year, the company earned $1.76 earnings per share. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 9.26 earnings per share for the current fiscal year.

In related news, Director Mellody L. Hobson acquired 1,150 shares of the stock in a transaction dated Friday, October 19th. The stock was acquired at an average cost of $108.94 per share, with a total value of $125,281.00. Following the purchase, the director now directly owns 2,632 shares of the company’s stock, valued at $286,730.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.73% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of JPM. Arlington Partners LLC increased its holdings in JPMorgan Chase & Co. by 126.6% during the 3rd quarter. Arlington Partners LLC now owns 895 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 500 shares during the period. O Brien Wealth Partners LLC increased its holdings in JPMorgan Chase & Co. by 1,120.9% during the 3rd quarter. O Brien Wealth Partners LLC now owns 1,111 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 1,020 shares during the period. Quad Cities Investment Group LLC purchased a new position in JPMorgan Chase & Co. during the 2nd quarter worth $124,000. Ballew Advisors Inc increased its holdings in JPMorgan Chase & Co. by 104.2% during the 2nd quarter. Ballew Advisors Inc now owns 1,213 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 619 shares during the period. Finally, Stelac Advisory Services LLC purchased a new position in JPMorgan Chase & Co. during the 1st quarter worth $162,000. 70.26% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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The Fly

Analyst Recommendations for JPMorgan Chase & Co. (NYSE:JPM)

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