JPMorgan Chase & Co. (NYSE:JPM) Now Covered by Truist Financial

Stock analysts at Truist Financial initiated coverage on shares of JPMorgan Chase & Co. (NYSE:JPM) in a report issued on Tuesday,Benzinga reports. The firm set a “hold” rating and a $260.00 price target on the financial services provider’s stock. Truist Financial’s price target would suggest a potential upside of 6.98% from the stock’s previous close.

Several other brokerages have also recently commented on JPM. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research note on Friday, January 3rd. Evercore ISI boosted 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 note on Monday, October 14th. Finally, Barclays lifted their price target on JPMorgan Chase & Co. from $257.00 to $304.00 and gave the stock an “overweight” rating in a report on Monday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $245.83.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $243.03 on Tuesday. The company has a fifty day moving average price of $240.83 and a 200 day moving average price of $222.10. The firm has a market cap of $684.21 billion, a PE ratio of 13.52, a PEG ratio of 3.54 and a beta of 1.11. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 1-year low of $164.30 and a 1-year high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the firm posted $4.33 earnings per share. The firm’s revenue for the quarter 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 fiscal year.

Institutional Inflows and Outflows

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

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.