Oppenheimer Cuts JPMorgan Chase & Co. (NYSE:JPM) Price Target to $232.00

JPMorgan Chase & Co. (NYSE:JPM) had its price target reduced by analysts at Oppenheimer from $234.00 to $232.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price objective suggests a potential upside of 4.32% from the stock’s previous close.

Several other research firms also recently issued reports on JPM. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Daiwa Capital Markets decreased their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. BMO Capital Markets increased their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Finally, Barclays upped their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $222.39 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock has a market cap of $638.63 billion, a P/E ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11. The company has a 50-day moving average price of $212.76 and a 200 day moving average price of $204.04. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the prior year, the firm posted $4.33 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Retirement Group LLC boosted its position in shares of JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares in the last quarter. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $32,000. Richardson Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the first quarter worth about $34,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth about $34,000. Finally, Davidson Capital Management Inc. purchased a new position in JPMorgan Chase & Co. in the first quarter valued at about $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

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.