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

JPMorgan Chase & Co. (NYSE:JPM) had its target price boosted by stock analysts at Citigroup from $215.00 to $250.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price target would suggest a potential upside of 2.25% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Barclays increased their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Daiwa Capital Markets cut their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Finally, Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $220.00 to $224.00 in a report on Monday, September 30th. 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Price Performance

Shares of JPM traded down $0.54 during trading hours on Tuesday, hitting $244.49. The stock had a trading volume of 2,137,619 shares, compared to its average volume of 9,079,768. JPMorgan Chase & Co. has a 52 week low of $151.92 and a 52 week high of $248.00. The stock has a market capitalization of $688.32 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 3.56 and a beta of 1.10. The company’s fifty day moving average is $220.06 and its two-hundred day moving average is $210.55. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the prior year, the business earned $4.33 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several large investors have recently made changes to their positions in JPM. Geode Capital Management LLC increased its stake in shares of JPMorgan Chase & Co. by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock worth $12,258,346,000 after purchasing an additional 505,830 shares during the last quarter. Capital International Investors increased its stake in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after purchasing an additional 778,297 shares during the period. Capital World Investors lifted its holdings in shares of JPMorgan Chase & Co. by 0.4% during the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after buying an additional 150,812 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of JPMorgan Chase & Co. by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after acquiring an additional 1,040,594 shares during the period. Finally, Capital Research Global Investors increased its position in JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after acquiring an additional 3,252,451 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

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.