JPMorgan Chase & Co. (NYSE:JPM) Rating Lowered to Equal Weight at Morgan Stanley

by · The Markets Daily

Morgan Stanley cut shares of JPMorgan Chase & Co. (NYSE:JPM) from an overweight rating to an equal weight rating in a report released on Monday morning, MarketBeat reports. Morgan Stanley currently has $224.00 price target on the financial services provider’s stock, up from their previous price target of $220.00.

Other analysts also recently issued reports about the company. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an overweight rating in a research note on Monday, July 15th. Jefferies Financial Group increased their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a buy rating in a research report on Wednesday, July 3rd. BMO Capital Markets boosted their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a market perform rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a market perform rating in a research note on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft restated a hold rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of Moderate Buy and a consensus price target of $212.13.

Check Out Our Latest Report on JPMorgan Chase & Co.

JPMorgan Chase & Co. Trading Down 1.0 %

Shares of NYSE:JPM opened at $205.17 on Monday. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $589.18 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11. The company has a 50-day simple moving average of $211.32 and a 200 day simple moving average of $202.90.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. During the same period last year, the firm posted $4.37 earnings per share. Sell-side analysts forecast that JPMorgan Chase & Co. will post 16.72 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.44%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.89%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Swedbank AB acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at approximately $800,130,000. Capital Research Global Investors lifted its holdings in JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after buying an additional 3,252,451 shares during the period. Wulff Hansen & CO. grew its position in shares of JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after buying an additional 2,787,510 shares during the last quarter. Capital International Investors increased its stake in shares of JPMorgan Chase & Co. by 5.4% in the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after buying an additional 2,128,478 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its position in shares of JPMorgan Chase & Co. by 3,836.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock worth $258,377,000 after acquiring an additional 1,480,379 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

(Get Free Report)

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.

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