Berenberg Bank Analysts Give J P Morgan Chase & Co (NYSE:JPM) a $65.00 Price Target

Berenberg Bank set a $65.00 price target on J P Morgan Chase & Co (NYSE:JPM) in a research note published on Thursday. The brokerage currently has a sell rating on the financial services provider’s stock.

JPM has been the topic of several other research reports. BidaskClub upgraded J P Morgan Chase & Co from a sell rating to a hold rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods upped their price objective on J P Morgan Chase & Co to $47.00 and gave the stock a buy rating in a research report on Monday, April 17th. Vetr lowered J P Morgan Chase & Co from a strong-buy rating to a buy rating and set a $97.41 price objective on the stock. in a research report on Monday, June 12th. Vining Sparks upgraded J P Morgan Chase & Co to an outperform rating and set a $95.00 price objective on the stock in a research report on Thursday, April 27th. Finally, Zacks Investment Research lowered J P Morgan Chase & Co from a buy rating to a hold rating in a research report on Thursday, July 27th. Three 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. J P Morgan Chase & Co has a consensus rating of Hold and a consensus target price of $84.71.

Shares of J P Morgan Chase & Co (JPM) traded up 1.25% during mid-day trading on Thursday, reaching $93.66. 14,323,999 shares of the company traded hands. The stock has a market capitalization of $329.59 billion, a PE ratio of 13.83 and a beta of 1.19. The firm has a 50 day moving average of $90.52 and a 200-day moving average of $88.06. 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 issued its earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.23. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. J P Morgan Chase & Co’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.55 earnings per share. On average, equities research analysts expect that J P Morgan Chase & Co will post $6.81 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Thursday, July 6th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Monday, July 3rd. J P Morgan Chase & Co’s dividend payout ratio is presently 29.59%.

In related news, CFO Marianne Lake sold 17,596 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $91.58, for a total transaction of $1,611,441.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole Giles sold 1,000 shares of the firm’s stock in a transaction dated 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 owns 3,783 shares of the company’s stock, valued at $345,350.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,110 shares of company stock valued at $2,270,818. Company insiders own 0.85% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Private Vista LLC purchased a new position in shares of J P Morgan Chase & Co during the second quarter worth approximately $102,000. Pacific Center for Financial Services purchased a new position in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $106,000. Thomas J. Herzfeld Advisors Inc. purchased a new position in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $125,000. Glacier Peak Capital LLC purchased a new position in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $129,000. Finally, Tortoise Investment Management LLC boosted its position in shares of 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 worth $136,000 after buying an additional 1,283 shares during the period. 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.