J P Morgan Chase & Co’s (NYSE:JPM) Buy Rating Reaffirmed at Bank of America Corporation

J P Morgan Chase & Co (NYSE:JPM)‘s stock had its “buy” rating reaffirmed by research analysts at Bank of America Corporation in a note issued to investors on Monday, July 17th. They presently have a $99.00 target price on the financial services provider’s stock. Bank of America Corporation’s target price suggests a potential upside of 5.70% from the company’s current price.

Several other equities research analysts have also recently issued reports on JPM. Barclays PLC restated an “overweight” rating and issued a $100.00 price target on shares of J P Morgan Chase & Co in a report on Monday, March 20th. Vetr upgraded shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $98.53 price target for the company in a report on Monday, March 20th. Rafferty Capital Markets reiterated a “buy” rating and set a $97.00 price objective (up previously from $96.00) on shares of J P Morgan Chase & Co in a research note on Tuesday, March 21st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $47.00 price target on shares of J P Morgan Chase & Co in a research note on Friday, April 14th. Finally, Nomura restated a “neutral” rating and set a $83.00 price target on shares of J P Morgan Chase & Co in a research note on Monday, April 17th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $84.71.

J P Morgan Chase & Co (NYSE:JPM) traded up 1.25% during mid-day trading on Monday, reaching $93.66. The company’s stock had a trading volume of 14,323,999 shares. The firm has a 50 day moving average price of $90.52 and a 200 day moving average price of $88.06. The company has a market cap of $329.59 billion, a price-to-earnings ratio of 13.82 and a beta of 1.19. J P Morgan Chase & Co has a 52-week low of $63.65 and a 52-week high of $94.51.

J P Morgan Chase & Co (NYSE:JPM) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.23. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 EPS. Equities research analysts anticipate that J P Morgan Chase & Co will post $6.81 earnings per share for the current year.

In other J P Morgan Chase & Co news, insider Nicole Giles sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $91.29, for a total value of $91,290.00. Following the transaction, the insider now directly owns 3,783 shares of the company’s stock, valued at approximately $345,350.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ashley Bacon sold 6,514 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $87.21, for a total transaction of $568,085.94. Following the completion of the transaction, the insider now directly owns 47,384 shares in the company, valued at $4,132,358.64. The disclosure for this sale can be found here. Insiders sold a total of 25,110 shares of company stock worth $2,270,818 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Several large investors have recently modified their holdings of the company. Pacific Center for Financial Services bought a new stake in shares of J P Morgan Chase & Co during the fourth quarter valued at approximately $106,000. Northwest Quadrant Wealth Management LLC bought a new stake in shares of J P Morgan Chase & Co during the fourth quarter valued at approximately $125,000. Thomas J. Herzfeld Advisors Inc. bought a new stake in shares of J P Morgan Chase & Co during the fourth quarter valued at approximately $125,000. Glacier Peak Capital LLC bought a new stake in shares of J P Morgan Chase & Co during the fourth quarter valued at approximately $129,000. Finally, Tortoise Investment Management LLC raised its stake in J P Morgan Chase & Co by 434.9% in the fourth quarter. Tortoise Investment Management LLC now owns 1,578 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,283 shares in the last quarter. Institutional investors own 74.08% of the company’s stock.

J P Morgan Chase & Co Company Profile

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.