JPMorgan Chase & Co. (NYSE:JPM) Trading Down 0.4% on Analyst Downgrade

JPMorgan Chase & Co. (NYSE:JPM) shares traded down 0.4% on Thursday after Morgan Stanley lowered their price target on the stock from $226.00 to $220.00. Morgan Stanley currently has an overweight rating on the stock. JPMorgan Chase & Co. traded as low as $204.89 and last traded at $206.30. 1,542,493 shares changed hands during trading, a decline of 83% from the average session volume of 9,107,104 shares. The stock had previously closed at $207.23.

Other equities analysts have also recently issued research reports about the company. Piper Sandler raised their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Citigroup upped their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Oppenheimer upped their target price on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, UBS Group lifted their price target on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $211.06.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several hedge funds have recently bought and sold shares of the business. Wellington Wealth Strategies LLC. bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $1,145,000. Cooper Financial Group grew its holdings in JPMorgan Chase & Co. by 12.8% during the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock worth $1,741,000 after acquiring an additional 984 shares in the last quarter. Spartan Planning & Wealth Management increased its position in JPMorgan Chase & Co. by 257.3% during the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 2,722 shares during the period. jvl associates llc raised its holdings in shares of JPMorgan Chase & Co. by 59.8% in the 1st quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 715 shares in the last quarter. Finally, MMA Asset Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $207,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.3 %

The stock has a market capitalization of $593.29 billion, a P/E ratio of 11.52, a P/E/G ratio of 2.39 and a beta of 1.12. The stock’s 50 day moving average price is $211.35 and its 200-day moving average price is $200.65. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter last year, the firm earned $4.37 EPS. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

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.