Bank of America Increases JPMorgan Chase & Co. (NYSE:JPM) Price Target to $280.00

JPMorgan Chase & Co. (NYSE:JPM) had its target price lifted by Bank of America from $260.00 to $280.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s target price would indicate a potential upside of 15.21% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research note on Friday, January 3rd. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a research note on Thursday, November 7th. Daiwa Capital Markets dropped their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Evercore ISI upped their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada upped their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus target price of $245.83.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $243.03 on Tuesday. The business’s 50-day moving average is $240.83 and its two-hundred day moving average is $222.10. The company has a market capitalization of $684.21 billion, a P/E ratio of 13.52, a P/E/G ratio of 3.54 and a beta of 1.11. JPMorgan Chase & Co. has a fifty-two week low of $164.30 and a fifty-two week high of $254.31. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89.

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

Hedge Funds Weigh In On JPMorgan Chase & Co.

Institutional investors and hedge funds have recently bought and sold shares of the company. Legacy Private Trust Co. grew its position in JPMorgan Chase & Co. by 3.2% in the fourth quarter. Legacy Private Trust Co. now owns 72,206 shares of the financial services provider’s stock worth $17,308,000 after acquiring an additional 2,249 shares during the period. First Hawaiian Bank lifted its stake in shares of JPMorgan Chase & Co. by 1.0% in the 4th quarter. First Hawaiian Bank now owns 47,964 shares of the financial services provider’s stock valued at $11,497,000 after purchasing an additional 460 shares during the last quarter. InvesTrust acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $10,578,000. Private Client Services LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.6% during the 4th quarter. Private Client Services LLC now owns 5,708 shares of the financial services provider’s stock worth $1,368,000 after purchasing an additional 91 shares during the period. Finally, Sterneck Capital Management LLC increased its position in shares of JPMorgan Chase & Co. by 1.8% during the 4th quarter. Sterneck Capital Management LLC now owns 5,299 shares of the financial services provider’s stock worth $1,270,000 after purchasing an additional 93 shares during the last quarter. 71.55% of the stock is currently 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.