JPMorgan Chase & Co. (NYSE:JPM) Price target lowered to $118.00 at Wells Fargo & Company


JPMorgan Chase & Co. (NYSE: JPM) had its price target lowered by Wells Fargo & Company research analysts from $120.00 to $118.00 in a research report released Thursday, reports The Fly. The brokerage currently has an “equal weight” rating on shares of the financial services provider. Wells Fargo & Company’s price target would point to a potential upside of 4.47% from the stock’s previous close.

JPM has been the subject of a number of other reports. Piper Sandler lowered its price target on JPMorgan Chase & Co. from $170.00 to $158.00 and set an “overweight” rating on the stock in a Friday, July 1 research note. Argus lowered its target price on JPMorgan Chase & Co. from $177.00 to $155.00 in a Thursday, April 14 research report. Credit Suisse Group set a target price of $160.00 on JPMorgan Chase & Co. in a research report Tuesday. Morgan Stanley lowered its target price on JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating on the stock in a research report Tuesday. Finally, Barclays set a target price of $200.00 on JPMorgan Chase & Co. in a Thursday, June 30 research report. One analyst has assigned the stock a sell rating, seven have issued a hold rating and nine have assigned the stock a buy rating. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $143.95.

JPMorgan Chase & Co. stock performance

JPM stock opened at $112.95 on Thursday. The company has a market capitalization of $331.74 billion, a P/E ratio of 8.38, a price-to-earnings growth ratio of 1.99 and a beta of 1.15. JPMorgan Chase & Co. has a 1-year low of $106.06 and a 1-year high of $172.96. The company has a debt ratio of 1.16, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s fifty-day moving average price is $119.34 and its 200-day moving average price is $134.51.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly results on Thursday, July 14. The financial services provider reported earnings per share (EPS) of $2.76 for the quarter, meeting analyst consensus estimates of $2.76. The company posted revenue of $30.72 billion for the quarter, versus a consensus estimate of $31.82 billion. JPMorgan Chase & Co. achieved a return on equity of 16.58% and a net margin of 33.61%. The company’s revenue for the quarter increased 0.8% year over year. During the same period last year, the company posted EPS of $3.78. On average, stock analysts expect JPMorgan Chase & Co. to post earnings per share of 11.37 for the current year.

Insider Trading at JPMorgan Chase & Co.

In other news, insider Ashley Bacon sold 21,012 shares of JPMorgan Chase & Co. in a trade dated Tuesday, April 19. The stock was sold at an average price of $130.04, for a total value of $2,732,400.48. Following the sale, the insider now directly owns 178,588 shares of the company, valued at $23,223,583.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Insiders own 0.79% of the shares of the company.

Institutional investors weigh in on JPMorgan Chase & Co.

Several large investors have recently increased or reduced their stake in the stock. ACT Wealth Management LLC increased its position in JPMorgan Chase & Co. shares by 25.5% during the fourth quarter. ACT Wealth Management LLC now owns 2,749 shares of the financial services provider valued at $435,000 after purchasing an additional 559 shares during the period. Syverson Strege & Co increased its position in JPMorgan Chase & Co. shares by 9.4% during the fourth quarter. Syverson Strege & Co now owns 1,508 shares of the financial services provider valued at $239,000 after buying an additional 130 shares during the period. Curbstone Financial Management Corp increased its position in JPMorgan Chase & Co. shares by 2.2% during the fourth quarter. Curbstone Financial Management Corp now owns 25,698 shares of the financial services provider valued at $4,069,000 after purchasing an additional 542 shares during the period. Caliber Wealth Management LLC increased its position in JPMorgan Chase & Co. shares by 26.3% during the fourth quarter. Caliber Wealth Management LLC now owns 13,846 shares of the financial services provider valued at $2,186,000 after purchasing an additional 2,879 shares during the period. Finally, Tandem Investment Advisors Inc. increased its position in JPMorgan Chase & Co. shares by 23.6% during the fourth quarter. Tandem Investment Advisors Inc. now owns 3,860 shares of the financial services provider valued at $611,000 after purchasing an additional 738 shares during the period. 70.35% of the shares are held by institutional investors.

About JPMorgan Chase & Co.

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JPMorgan Chase & Co operates as a worldwide financial services company. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB) and Asset & Wealth Management (AWM). The CCB segment offers s deposit, investment and lending products, payments and consumer services; lending, deposit, cash management and payment solutions for small businesses; mortgage origination and management activities; residential mortgages and home equity loans; and credit card, car loan and leasing services.

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