JPMorgan Chase & Co. (NYSE:JPM) Earns Outperform Rating from Royal Bank of Canada

JPMorgan Chase & Co. (NYSE:JPM)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a research note issued to investors on Tuesday, MarketBeat reports. They presently have a $285.00 price target on the financial services provider’s stock, up from their prior price target of $255.00. Royal Bank of Canada’s target price indicates a potential upside of 9.40% from the stock’s previous close.

A number of other brokerages also recently issued reports on JPM. Wall Street Zen raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Cowen assumed coverage on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 14th. They issued a “buy” rating for the company. UBS Group boosted their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Finally, TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a “buy” rating and a $305.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $266.20.

JPMorgan Chase & Co. Trading Down 0.2%

Shares of NYSE JPM opened at $260.50 on Tuesday. The firm’s 50 day moving average price is $243.37 and its 200-day moving average price is $248.05. JPMorgan Chase & Co. has a 52-week low of $190.88 and a 52-week high of $280.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company has a market cap of $723.95 billion, a PE ratio of 13.20, a P/E/G ratio of 2.83 and a beta of 1.07.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. The company had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.44 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 25,000 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the transaction, the chief executive officer now owns 133,381 shares of the company’s stock, valued at $32,947,774.62. The trade was a 15.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the sale, the general counsel now directly owns 36,520 shares of the company’s stock, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,594 shares of company stock worth $23,991,061. 0.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its position in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after purchasing an additional 876,417 shares in the last quarter. Norges Bank purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $8,310,884,000. Northern Trust Corp grew its holdings in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after buying an additional 4,515,147 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock valued at $6,083,723,000 after buying an additional 454,226 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after buying an additional 23,465,278 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.