Truist Financial Issues Hold Rating on JPMorgan Chase & Co.

On Tuesday, Truist Financial announced that it has initiated coverage on shares of JPMorgan Chase & Co. (NYSE:JPM). In their research note, they recommended a "hold" rating for the stock, along with a target price set at $260.00. This target price implies a potential upside of approximately 7.91% compared to JPMorgan's current stock price.

Analyst Opinions on JPMorgan Chase & Co.

The coverage by Truist Financial is just one of several recent evaluations of JPMorgan's performance. Keefe, Bruyette & Woods raised their price target for JPMorgan Chase from $216.00 to $254.00, while maintaining a "market perform" rating. In another report, Daiwa Capital Markets lowered their price target from $240.00 to $235.00 but issued an "overweight" rating. Additionally, Royal Bank of Canada increased their target price from $211.00 to $230.00 and recommended an "outperform" rating. Citigroup also raised their target to $250.00 with a "neutral" rating. Piper Sandler presented an even higher target, increasing theirs from $240.00 to $275.00 with an "overweight" rating.

Overall, the stock has received mixed ratings: two analysts have given it a sell rating, eight have provided a hold rating, and ten have assigned it a buy rating. According to MarketBeat, JPMorgan Chase & Co. holds a consensus rating of "Hold" with an average target price of approximately $243.82.

Performance Overview

As of Tuesday, shares of JPM opened at $240.94. The company maintains a quick ratio and current ratio both at 0.89, with a debt-to-equity ratio standing at 1.27. The 50-day moving average price is noted at $240.05, while the 200-day moving average price is $221.62. Over the past year, the stock has fluctuated between a 52-week low of $164.30 and a high of $254.31. The market capitalization for JPMorgan Chase & Co. is currently around $678.33 billion, having a P/E ratio of 13.41 and P/E/G ratio of 3.54. It has a beta of 1.11, which indicates its volatility relative to the overall market.

Recently, JPMorgan Chase & Co. reported its quarterly earnings on October 11th. The company posted earnings per share (EPS) of $4.37, surpassing market expectations of $4.02 by $0.35. The net margin for the quarter was 19.64%, and the return on equity was 16.71%. Revenue for the quarter reached $43.32 billion, exceeding the forecast of $41.43 billion. This quarter also marked a 6.5% increase in revenue compared to the same period last year. Analysts predict that the company will record an EPS of 17.62 for the current financial year.

Institutional Investors and Stake Activity

Recent activity among institutional investors reveals a trend of increasing or reducing stakes in JPMorgan Chase & Co. Financial Avengers Inc. raised its position in the stock by 5.2% during the third quarter and now owns 868 shares valued at $183,000. One Charles Private Wealth Services LLC expanded their holdings by 0.4% in the same period, now possessing 12,179 shares worth $2,568,000. Similarly, Henrickson Nauta Wealth Advisors Inc. increased its stake by 1.3%, and West Wealth Group LLC raised theirs by 3.6%. Notably, institutional investors currently hold approximately 71.55% of JPMorgan's stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. operates globally as a major financial services firm. It functions across four main segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment includes various banking services, such as deposit products, investment services, lending options, mortgage activities, and credit cards, catering to both individual consumers and small businesses.

JPMorgan, banking, investment