Truist Financial Raises JPMorgan Chase & Co. (NYSE:JPM) Price Target to $352.00

JPMorgan Chase & Co. (NYSE:JPM) had its target price lifted by stock analysts at Truist Financial from $344.00 to $352.00 in a report released on Wednesday, Marketbeat Ratings reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective would indicate a potential upside of 2.62% from the stock’s current price.

JPM has been the subject of a number of other reports. Royal Bank Of Canada reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Argus upped their price objective on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Finally, Evercore reaffirmed an “outperform” rating and set a $360.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. Fifteen research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $354.92.

JPMorgan Chase & Co. Trading Down 1.1%

NYSE:JPM opened at $343.02 on Wednesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85. The firm has a market cap of $919.14 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.57 and a beta of 0.99. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $351.24. The firm has a 50-day moving average price of $318.31 and a two-hundred day moving average price of $310.09.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same quarter last year, the firm earned $5.07 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities analysts expect that JPMorgan Chase & Co. will post 22.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the transaction, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the sale, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at $26,326,072.44. This represents a 5.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 18,876 shares of company stock valued at $5,907,051. 0.41% of the stock is owned by company insiders.

Institutional Trading of JPMorgan Chase & Co.

Several hedge funds have recently made changes to their positions in JPM. Fidelis Capital Partners LLC lifted its stake in JPMorgan Chase & Co. by 7.9% in the 4th quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider’s stock worth $22,580,000 after purchasing an additional 5,101 shares in the last quarter. Howard Capital Management Inc. increased its holdings in shares of JPMorgan Chase & Co. by 18.2% in the fourth quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider’s stock worth $8,308,000 after purchasing an additional 3,976 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of JPMorgan Chase & Co. by 51.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider’s stock worth $2,862,000 after purchasing an additional 3,027 shares during the period. Brighton Jones LLC raised its position in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 4,841 shares in the last quarter. Finally, KTF Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $6,449,000. 71.55% of the stock is currently owned by institutional investors.

Key JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan reported blowout Q2 results, including record net income of $21.2 billion, with CEO Jamie Dimon saying the economy remains “close to as good as it gets.” The bank also posted strong trading and investment banking performance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income — Up 41% — and CEO Jamie Dimon Said the Economy Is “Close to as Good as It Gets.”
• Positive Sentiment: Analysts turned more bullish after earnings, with Bank of America, Keefe, Bruyette & Woods, and Truist all lifting price targets, reflecting confidence in JPMorgan’s profitability, capital flexibility, and guidance for stronger net interest income. Analyst price-target updates
• Positive Sentiment: JPMorgan raised its full-year net interest income outlook to $105.5 billion, signaling that core lending revenue remains resilient even after the Federal Reserve’s policy changes. JPMorgan Chase Just Posted 86% Growth in Equities Trading Revenue and Raised Its Full-Year Net Interest Income Guidance to $105.5 Billion
• Neutral Sentiment: JPMorgan continued to show market leadership and a path toward a possible $1 trillion valuation, helped by its scale in lending, trading, and dealmaking, but that milestone may also be encouraging some short-term profit taking after the stock’s sharp run. Dimon-led JPMorgan poised to become world’s first $1 trillion bank
• Neutral Sentiment: The bank also announced a $24 million investment in Philadelphia shipbuilding and defense manufacturing, which supports its long-term industrial finance strategy but is unlikely to move the stock materially by itself. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Some commentary focused on JPMorgan’s higher expense outlook following earnings, suggesting costs could rise faster than investors expected and tempering enthusiasm after the strong report. Its Dividend Looks Secure, But Don’t Chase JPM Stock After Q2 Earnings. Here’s Why.

JPMorgan Chase & Co. Company Profile

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.