Truist Financial Forecasts Strong Price Appreciation for JPMorgan Chase & Co. (NYSE:JPM) Stock

JPMorgan Chase & Co. (NYSE:JPM) had its price objective raised by investment analysts at Truist Financial from $260.00 to $268.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price suggests a potential upside of 3.29% from the stock’s current price.

Several other brokerages have also commented on JPM. Barclays increased their price objective on JPMorgan Chase & Co. from $257.00 to $304.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Evercore ISI upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Daiwa Capital Markets lowered their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $251.78.

JPMorgan Chase & Co. Trading Up 2.0 %

JPM stock opened at $259.46 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a twelve month low of $165.24 and a twelve month high of $260.62. The stock has a market capitalization of $730.47 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 3.16 and a beta of 1.11. The firm’s fifty day simple moving average is $243.06 and its two-hundred day simple moving average is $223.93.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.04 earnings per share. As a group, analysts anticipate that JPMorgan Chase & Co. will post 17.46 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the transaction, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. The trade was a 6.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is currently owned by insiders.

Institutional Trading of JPMorgan Chase & Co.

Several institutional investors have recently bought and sold shares of JPM. Mizuho Securities Co. Ltd. acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. during the third quarter valued at $27,000. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $32,000. West Financial Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $37,000. Finally, New England Capital Financial Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 50 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

About JPMorgan Chase & Co.

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.