JPMorgan Chase & Co. (NYSE:JPM) Given New $268.00 Price Target at Truist Financial

JPMorgan Chase & Co. (NYSE:JPM) had its target price lifted by equities researchers at Truist Financial from $260.00 to $268.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective would suggest a potential upside of 5.09% from the company’s previous close.

A number of other equities research analysts have also recently commented on JPM. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $257.00 to $304.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Finally, 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 report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $246.28.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock traded up $2.68 during mid-day trading on Thursday, hitting $255.03. 2,020,981 shares of the stock were exchanged, compared to its average volume of 9,886,692. JPMorgan Chase & Co. has a 12 month low of $165.24 and a 12 month high of $256.83. The company has a 50-day simple moving average of $242.60 and a 200 day simple moving average of $223.51. 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 company has a market capitalization of $718.00 billion, a P/E ratio of 14.19, a P/E/G ratio of 3.16 and a beta of 1.11.

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

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently bought and sold shares of JPM. International Assets Investment Management LLC bought a new position in JPMorgan Chase & Co. in the third quarter worth about $1,888,088,000. Fisher Asset Management LLC raised its stake in JPMorgan Chase & Co. by 31.7% in the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after buying an additional 4,043,841 shares in the last quarter. Wulff Hansen & CO. raised its stake in JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after buying an additional 2,787,510 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in JPMorgan Chase & Co. by 137.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock worth $922,760,000 after buying an additional 2,535,590 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in JPMorgan Chase & Co. by 93.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock worth $567,669,000 after purchasing an additional 1,301,764 shares during the period. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Company Profile

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.