JPMorgan Chase & Co. (NYSE:JPM) Price Target Cut to $328.00 by Analysts at Daiwa Securities Group

JPMorgan Chase & Co. (NYSE:JPM) had its target price cut by Daiwa Securities Group from $340.00 to $328.00 in a research report sent to investors on Tuesday morning,MarketScreener reports. They currently have an outperform rating on the financial services provider’s stock.

Several other brokerages have also recently weighed in on JPM. The Goldman Sachs Group boosted their price target on shares of JPMorgan Chase & Co. from $352.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday. Zacks Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Weiss Ratings restated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Monday, December 22nd. TD Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, January 7th. Finally, Robert W. Baird boosted their price target on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $333.17.

Get Our Latest Stock Analysis on JPMorgan Chase & Co.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $297.21 on Tuesday. JPMorgan Chase & Co. has a one year low of $211.00 and a one year high of $337.25. The company’s fifty day moving average price is $298.78 and its 200-day moving average price is $306.88. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $801.58 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its earnings results on Tuesday, January 13th. The financial services provider reported $5.23 EPS for the quarter, topping the consensus estimate of $4.93 by $0.30. JPMorgan Chase & Co. had a net margin of 20.35% and a return on equity of 17.16%. The firm had revenue of $45.80 billion for the quarter, compared to the consensus estimate of $45.98 billion. During the same quarter in the previous year, the firm earned $4.81 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, April 6th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, April 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is 29.99%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 8,571 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $312.79, for a total transaction of $2,680,923.09. Following the transaction, the chief operating officer owned 71,027 shares in the company, valued at $22,216,535.33. The trade was a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the transaction, the chief executive officer owned 111,279 shares in the company, valued at $34,174,893.69. This trade represents a 31.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 72,029 shares of company stock valued at $22,195,693. Insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of JPM. Morgan Stanley grew its holdings in shares of JPMorgan Chase & Co. by 1.4% in the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after purchasing an additional 939,421 shares during the last quarter. Norges Bank bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $11,396,496,000. Bank of New York Mellon Corp grew its holdings in shares of JPMorgan Chase & Co. by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock worth $7,547,837,000 after purchasing an additional 1,194,583 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of JPMorgan Chase & Co. by 0.6% in the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock worth $6,128,484,000 after purchasing an additional 110,586 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock worth $5,161,532,000 after purchasing an additional 296,213 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

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JPMorgan Chase & Co. Company Profile

(Get Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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