Wells Fargo & Company Raises JPMorgan Chase & Co. (NYSE:JPM) Price Target to $270.00

JPMorgan Chase & Co. (NYSE:JPM) had its price objective boosted by equities research analysts at Wells Fargo & Company from $240.00 to $270.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 10.06% from the stock’s previous close.

JPM has been the topic of several other reports. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Royal Bank of Canada lifted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Daiwa Capital Markets reduced their price objective on 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $227.13.

JPMorgan Chase & Co. Trading Up 1.4 %

NYSE:JPM opened at $245.31 on Friday. JPMorgan Chase & Co. has a 1 year low of $150.09 and a 1 year high of $248.00. The stock has a market cap of $690.63 billion, a P/E ratio of 13.65, a P/E/G ratio of 3.50 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50-day simple moving average of $219.50 and a 200-day simple moving average of $209.92.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same period in the prior year, the firm posted $4.33 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. As a group, analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mizuho Securities Co. Ltd. acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $27,000. Fairway Wealth LLC purchased a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $32,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth about $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $37,000. 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.