Citigroup Issues Positive Forecast for JPMorgan Chase & Co. (NYSE:JPM) Stock Price

JPMorgan Chase & Co. (NYSE:JPM) had its price objective increased by analysts at Citigroup from $215.00 to $250.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently 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 company’s current price.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada raised their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Oppenheimer lifted their target price on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Barclays lifted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Stock Down 0.2 %

Shares of JPM stock traded down $0.54 on Tuesday, reaching $244.49. 2,137,619 shares of the stock were exchanged, compared to its average volume of 9,079,768. JPMorgan Chase & Co. has a twelve month low of $151.92 and a twelve month high of $248.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $688.32 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 3.56 and a beta of 1.10. The business’s 50 day moving average price is $220.06 and its 200 day moving average price is $210.55.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the prior year, the company posted $4.33 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of large investors have recently made changes to their positions in the company. Second Line Capital LLC grew its position in JPMorgan Chase & Co. by 0.9% during the third quarter. Second Line Capital LLC now owns 21,596 shares of the financial services provider’s stock valued at $4,554,000 after purchasing an additional 191 shares in the last quarter. Hohimer Wealth Management LLC boosted its position in JPMorgan Chase & Co. by 4.7% during the third quarter. Hohimer Wealth Management LLC now owns 5,737 shares of the financial services provider’s stock worth $1,210,000 after purchasing an additional 258 shares during the period. TD Private Client Wealth LLC grew its stake in JPMorgan Chase & Co. by 2.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 94,595 shares of the financial services provider’s stock valued at $19,946,000 after buying an additional 1,887 shares during the last quarter. Hobbs Group Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 18.1% in the third quarter. Hobbs Group Advisors LLC now owns 1,544 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 237 shares during the period. Finally, Arete Wealth Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the third quarter worth approximately $5,580,000. 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.