Credit Suisse Group lowers JPMorgan Chase & Co. (NYSE:JPM) target price to $145.00


JPMorgan Chase & Co. (NYSE: JPM) saw its target price lowered by Credit Suisse Group from $160.00 to $145.00 in a report on Friday, Stock Target Advisor reports. The brokerage currently has an “outperform” rating on shares of the financial services provider. Credit Suisse Group’s price target suggests upside potential of 28.38% from the stock’s previous close.

JPM has been the subject of several other reports. Argus lowered its target price on JPMorgan Chase & Co. from $177.00 to $155.00 in a Thursday, April 14 research report. Piper Sandler lowered her price target on JPMorgan Chase & Co. from $170.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, July 1. Wells Fargo & Company lowered its price target on JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research report Thursday. Oppenheimer upgraded JPMorgan Chase & Co. from a “market performer” rating to an “outperformer” rating and set a target price of $167.00 on the stock in a Tuesday, May 3 research report. Finally, Societe Generale upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised its price target for the company from $145.00 to $150.00 in a research note Tuesday, May 24. One analyst rated the stock with a sell rating, seven gave the company a hold rating and nine gave the company a buy rating. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $143.95.

JPMorgan Chase & Co. Stock up 4.6%

Shares of JPMorgan Chase & Co. opened at $112.95 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt ratio of 1.14. The company’s 50-day simple moving average is $119.34 and its 200-day simple moving average is $134.34. The stock has a market capitalization of $331.74 billion, a price-earnings ratio of 9.07, a PEG ratio of 1.91 and a beta of 1.15. JPMorgan Chase & Co. has a 12-month low of $106.06 and a 12-month high of $172.96.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last reported quarterly results on Thursday, July 14. The financial services provider reported earnings per share 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 $31.82 billion expected by analysts. JPMorgan Chase & Co. achieved a return on equity of 15.29% and a net margin of 30.41%. The company’s quarterly revenue increased 0.8% year over year. During the same period of the previous year, the company achieved EPS of $3.78. Equity research analysts expect JPMorgan Chase & Co. to post earnings per share of 11.3 for the current year.

Insider activity

In other news, insider Ashley Bacon sold 21,012 shares in a trade on 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 completion of the sale, the insider now owns 178,588 shares of the company, valued at $23,223,583.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Company insiders own 0.79% of the company’s shares.

JPMorgan Chase & Co. Institutional Trading

Several hedge funds and other institutional investors have recently changed their holdings in the company. Destiny Wealth Partners LLC increased its holdings of JPMorgan Chase & Co. shares by 2.4% during the second quarter. Destiny Wealth Partners LLC now owns 4,174 shares of the financial services provider worth $470,000 after acquiring 97 additional shares in the last quarter. Moseley Investment Management Inc. increased its position in JPMorgan Chase & Co. shares by 3.0% in the second quarter. Moseley Investment Management Inc. now owns 15,732 shares of the financial services provider valued at $1,772,000 after buying 453 additional shares in the last quarter. Delta Capital Management LLC increased its position in JPMorgan Chase & Co. by 0.6% during the second quarter. Delta Capital Management LLC now owns 27,980 shares of the financial services provider worth $3,151,000 after buying an additional 160 shares last quarter. Berkshire Bank increased its position in JPMorgan Chase & Co. by 0.8% during the second quarter. Berkshire Bank now owns 46,837 shares of the financial services provider worth $5,274,000 after buying 389 more shares last quarter. Finally, Smith Chas P & Associates PA Cpas increased its stake in JPMorgan Chase & Co. by 9.6% in the second quarter. Smith Chas P & Associates PA Cpas now owns 369,547 shares of the financial services provider valued at $41,615,000 after buying an additional 32,316 shares last quarter. 70.35% of the shares are currently held by hedge funds and other institutional investors.

JPMorgan Chase & Co. Company Profile

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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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