JPMorgan Chase & Co. (NYSE:JPM) Downgraded by Oppenheimer to Market Perform

JPMorgan Chase & Co. (NYSE:JPM) was downgraded by equities researchers at Oppenheimer from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday,Finviz reports.

Several other brokerages have also recently weighed in on JPM. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a research note on Thursday, November 7th. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday. Royal Bank of Canada lifted their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Finally, Evercore ISI raised their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $243.03 on Wednesday. JPMorgan Chase & Co. has a 1-year low of $151.92 and a 1-year high of $248.00. The company has a market capitalization of $684.21 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 3.56 and a beta of 1.10. The business has a 50 day moving average of $220.81 and a 200 day moving average of $210.92. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the firm posted $4.33 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Avengers Inc. raised its holdings in JPMorgan Chase & Co. by 5.2% in the 3rd quarter. Financial Avengers Inc. now owns 868 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 43 shares during the period. One Charles Private Wealth Services LLC raised its stake in shares of JPMorgan Chase & Co. by 0.4% during the 3rd quarter. One Charles Private Wealth Services LLC now owns 12,179 shares of the financial services provider’s stock worth $2,568,000 after buying an additional 44 shares during the period. Henrickson Nauta Wealth Advisors Inc. lifted its position in shares of JPMorgan Chase & Co. by 1.3% during the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after buying an additional 45 shares in the last quarter. Sunburst Financial Group LLC grew its stake in JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after acquiring an additional 45 shares during the period. Finally, West Wealth Group LLC increased its holdings in JPMorgan Chase & Co. by 3.6% in the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. 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 deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.