JPMorgan Chase & Co. (NYSE:JPM) Given New $320.00 Price Target at Wells Fargo & Company

JPMorgan Chase & Co. (NYSE:JPM) had its price target increased by equities research analysts at Wells Fargo & Company from $300.00 to $320.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 19.87% from the stock’s current price.

A number of other research firms have also recently issued reports on JPM. Truist Financial increased their target price on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a “hold” rating in a report on Monday, June 2nd. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a “hold” rating for the company. Royal Bank of Canada reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Finally, TD Securities restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $269.65.

JPMorgan Chase & Co. Stock Up 0.1%

JPM opened at $266.97 on Tuesday. JPMorgan Chase & Co. has a fifty-two week low of $190.88 and a fifty-two week high of $280.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The company has a market capitalization of $741.92 billion, a P/E ratio of 13.55, a P/E/G ratio of 2.83 and a beta of 1.08. The firm’s fifty day moving average price is $248.09 and its two-hundred day moving average price is $250.08.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same quarter last year, the business posted $4.44 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Buying and Selling

In other news, CEO Troy L. Rohrbaugh sold 25,000 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the transaction, the chief executive officer now directly owns 133,381 shares of the company’s stock, valued at $32,947,774.62. This represents a 15.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jennifer Piepszak sold 4,272 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.03, for a total transaction of $1,055,312.16. Following the completion of the sale, the chief operating officer now directly owns 50,197 shares in the company, valued at approximately $12,400,164.91. The trade was a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,722 shares of company stock worth $25,599,477. 0.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fourth Dimension Wealth LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $471,000. Disciplined Investments LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth $217,000. LGT Group Foundation boosted its holdings in JPMorgan Chase & Co. by 2.8% during the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock worth $126,040,000 after buying an additional 14,300 shares in the last quarter. Kinsale Capital Group Inc. raised its position in shares of JPMorgan Chase & Co. by 11.1% during the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock worth $10,483,000 after purchasing an additional 4,375 shares during the period. Finally, Jag Capital Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 10.5% in the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock worth $353,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.