JPMorgan Chase & Co. (NYSE:JPM) Price Target Raised to $280.00 at Bank of America

JPMorgan Chase & Co. (NYSE:JPM) had its price target increased by analysts at Bank of America from $260.00 to $280.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price objective would indicate a potential upside of 14.37% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a report on Friday. Royal Bank of Canada upped their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Barclays increased their target price on shares of JPMorgan Chase & Co. from $257.00 to $304.00 and gave the stock an “overweight” rating in a research report on Monday. 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 report on Thursday, November 7th. Finally, Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $245.83.

JPMorgan Chase & Co. Trading Up 1.7 %

JPM stock traded up $3.98 during mid-day trading on Tuesday, reaching $244.83. 4,538,286 shares of the stock traded hands, compared to its average volume of 8,229,136. JPMorgan Chase & Co. has a 52-week low of $164.30 and a 52-week high of $254.31. The stock’s fifty day moving average is $240.05 and its 200-day moving average is $221.62. The company has a market cap of $689.28 billion, a P/E ratio of 13.62, a P/E/G ratio of 3.54 and a beta of 1.11. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate 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 business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the firm earned $4.33 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mizuho Securities Co. Ltd. bought a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at about $27,000. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. during the second quarter worth about $32,000. West Financial Advisors LLC bought a new position in JPMorgan Chase & Co. during the third quarter valued at about $37,000. Finally, New England Capital Financial Advisors LLC raised its holdings in JPMorgan Chase & Co. by 38.5% in the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.