Trade Report: Today, JPMorgan Chase & Co. (JPM) Upgraded to Buy by Vetr Inc.

Today, JPMorgan Chase & Co. (JPM) Upgraded to Buy by Vetr Inc.

Vetr upgraded shares of JPMorgan Chase & Co. (NYSE:JPM) from a hold rating to a buy rating in a research note issued to investors on Monday morning. They currently have $70.76 target price on the financial services provider’s stock.

Other research analysts also recently issued research reports about the company. Jefferies Group reiterated a buy rating on shares of JPMorgan Chase & Co. in a research note on Sunday, July 10th. Credit Suisse Group AG reiterated a buy rating on shares of JPMorgan Chase & Co. in a research note on Saturday, July 9th. Wells Fargo & Co. reiterated a buy rating on shares of JPMorgan Chase & Co. in a research note on Saturday, July 9th. Barclays PLC reiterated a buy rating on shares of JPMorgan Chase & Co. in a research note on Saturday, July 9th. Finally, Oppenheimer Holdings Inc. reiterated a hold rating on shares of JPMorgan Chase & Co. in a research note on Sunday, July 17th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $72.38.

JPMorgan Chase & Co. (NYSE:JPM) opened at 67.90 on Monday. The firm’s 50-day moving average price is $67.06 and its 200 day moving average price is $64.13. The firm has a market cap of $245.22 billion, a P/E ratio of 11.51 and a beta of 1.54. JPMorgan Chase & Co. has a 52 week low of $52.50 and a 52 week high of $69.06.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.19. The company earned $25.50 billion during the quarter. JPMorgan Chase & Co. had a return on equity of 10.47% and a net margin of 22.92%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS. Equities analysts forecast that JPMorgan Chase & Co. will post $5.66 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Thursday, October 6th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Tuesday, October 4th. JPMorgan Chase & Co.’s payout ratio is 33.10%.

A number of hedge funds and other institutional investors have recently made changes to their positions in JPM. Vanguard Group Inc. boosted its position in shares of JPMorgan Chase & Co. by 2.1% in the second quarter. Vanguard Group Inc. now owns 229,636,598 shares of the financial services provider’s stock worth $14,269,618,000 after buying an additional 4,692,609 shares during the last quarter. Wellington Management Group LLP boosted its position in JPMorgan Chase & Co. by 4.4% in the first quarter. Wellington Management Group LLP now owns 69,735,097 shares of the financial services provider’s stock valued at $4,129,713,000 after buying an additional 2,936,653 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in JPMorgan Chase & Co. by 2.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 60,516,465 shares of the financial services provider’s stock valued at $3,760,494,000 after buying an additional 1,331,994 shares in the last quarter. Franklin Resources Inc. boosted its position in JPMorgan Chase & Co. by 1.6% in the second quarter. Franklin Resources Inc. now owns 42,729,841 shares of the financial services provider’s stock valued at $2,655,217,000 after buying an additional 668,959 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its position in JPMorgan Chase & Co. by 2.0% in the second quarter. BlackRock Fund Advisors now owns 42,696,451 shares of the financial services provider’s stock valued at $2,653,157,000 after buying an additional 832,523 shares in the last quarter. Institutional investors and hedge funds own 73.41% of the company’s stock.

About JPMorgan Chase & Co.

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 serves consumers and businesses through personal service at bank branches and through automatic teller machines, online, mobile and telephone banking.

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