Wells Fargo & Company Lowers JPMorgan Chase & Co. (NYSE:JPM) to Equal Weight

Wells Fargo & Company cut shares of JPMorgan Chase & Co. (NYSE:JPM) from an overweight rating to an equal weight rating in a research note released on Friday morning, The Fly reports.

Several other research analysts also recently issued reports on the company. Royal Bank of Canada restated a buy rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, December 22nd. Barclays lifted their price objective on JPMorgan Chase & Co. from $193.00 to $202.00 and gave the stock an overweight rating in a research report on Monday, January 3rd. Robert W. Baird restated a hold rating and set a $165.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, December 6th. Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $166.00 to $184.00 and gave the stock an underweight rating in a research report on Monday, December 6th. Finally, Zacks Investment Research upgraded JPMorgan Chase & Co. from a hold rating to a buy rating and set a $175.00 price target for the company in a report on Tuesday, September 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $176.47.

Shares of NYSE:JPM opened at $157.89 on Friday. The business’s 50 day simple moving average is $162.20 and its 200-day simple moving average is $160.76. The firm has a market capitalization of $466.61 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 2.82 and a beta of 1.13. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.86 and a quick ratio of 0.86. JPMorgan Chase & Co. has a 12 month low of $127.35 and a 12 month high of $172.96.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, January 14th. The financial services provider reported $3.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.98 by $0.35. JPMorgan Chase & Co. had a return on equity of 19.89% and a net margin of 39.41%. The business had revenue of $29.26 billion for the quarter, compared to analyst estimates of $29.78 billion. During the same quarter in the previous year, the company earned $3.79 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 14.98 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 31st. Stockholders of record on Thursday, January 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, January 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.53%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.30%.

Institutional investors have recently modified their holdings of the company. Prime Capital Investment Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 24.4% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 58,153 shares of the financial services provider’s stock valued at $9,045,000 after purchasing an additional 11,392 shares in the last quarter. Black Swift Group LLC acquired a new stake in JPMorgan Chase & Co. during the third quarter worth about $7,136,000. Burns J W & Co. Inc. NY raised its stake in JPMorgan Chase & Co. by 2.7% during the third quarter. Burns J W & Co. Inc. NY now owns 81,409 shares of the financial services provider’s stock worth $13,326,000 after acquiring an additional 2,159 shares during the period. Unified Trust Company N.A. raised its stake in JPMorgan Chase & Co. by 6.4% during the second quarter. Unified Trust Company N.A. now owns 45,069 shares of the financial services provider’s stock worth $7,010,000 after acquiring an additional 2,711 shares during the period. Finally, Ausdal Financial Partners Inc. raised its stake in JPMorgan Chase & Co. by 6.2% during the third quarter. Ausdal Financial Partners Inc. now owns 12,801 shares of the financial services provider’s stock worth $2,095,000 after acquiring an additional 747 shares during the period. Institutional investors and hedge funds own 69.32% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company. It provides 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.

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