JPMorgan Chase & Co. (NYSE:JPM) Shares Up 2.9% – Time to Buy?

JPMorgan Chase & Co. (NYSE:JPM)’s share price was up 2.9% during mid-day trading on Friday . The stock traded as high as $231.57 and last traded at $231.73. Approximately 3,055,735 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 8,845,787 shares. The stock had previously closed at $225.19.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Truist Financial upped their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.89.

JPMorgan Chase & Co. Stock Performance

The company has a fifty day moving average of $258.50 and a two-hundred day moving average of $238.60. The stock has a market capitalization of $648.55 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate of $4.03 by $0.78. The company had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 EPS. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the transaction, the chief executive officer now directly owns 158,381 shares in the company, valued at $42,737,529.04. The trade was a 19.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the transaction, the insider now directly owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This trade represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,326 shares of company stock worth $12,448,445 over the last 90 days. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JPM. Mizuho Securities Co. Ltd. acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth about $25,000. Redwood Park Advisors LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth about $29,000. Sellwood Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $34,000. Investment Counsel Co. of Nevada bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $37,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.