JPMorgan Chase & Co. (JPM) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of JPMorgan Chase & Co. (NYSE:JPM) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

According to Zacks, “JPMorgan's shares have underperformed the industry over the past three months. Yet, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. Fee income growth challenges (mainly due to a slowdown in capital market activities and dismal mortgage banking performance) remains a major concern for the company. Also, litigation hassles make us apprehensive because a rise in legal expenses are expected to weigh marginally on the company’s bottom line in the near future. Nonetheless, the bank’s efforts to expand into new markets, focus on card business, higher interest rates and rising loan demand will likely continue to benefit its financials.”

Other equities research analysts have also issued research reports about the stock. Edward Jones raised shares of JPMorgan Chase & Co. from a hold rating to a buy rating in a research note on Thursday, March 22nd. Jefferies Financial Group reissued a buy rating and set a $122.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, April 16th. Vining Sparks reissued a buy rating and set a $130.00 price objective on shares of JPMorgan Chase & Co. in a research note on Friday, April 6th. Vetr lowered shares of JPMorgan Chase & Co. from a strong-buy rating to a buy rating and set a $123.29 price objective on the stock. in a research note on Thursday, April 5th. Finally, ValuEngine lowered shares of JPMorgan Chase & Co. from a buy rating to a hold rating in a research note on Monday, April 2nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $114.06.

Shares of JPM opened at $103.72 on Monday. The stock has a market cap of $355.59 billion, a PE ratio of 15.10, a P/E/G ratio of 1.72 and a beta of 1.20. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.01 and a current ratio of 1.01. JPMorgan Chase & Co. has a 1-year low of $88.08 and a 1-year high of $119.33.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 13th. The financial services provider reported $2.37 EPS for the quarter, topping the consensus estimate of $2.28 by $0.09. JPMorgan Chase & Co. had a net margin of 22.53% and a return on equity of 12.60%. The business had revenue of $27.90 billion for the quarter, compared to analyst estimates of $27.73 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 12.0% on a year-over-year basis. research analysts expect that JPMorgan Chase & Co. will post 9.03 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, July 6th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $2.24 annualized dividend and a dividend yield of 2.16%. JPMorgan Chase & Co.’s payout ratio is 32.61%.

In other JPMorgan Chase & Co. news, Director Mellody L. Hobson bought 18,000 shares of the business’s stock in a transaction that occurred on Monday, April 16th. The stock was bought at an average cost of $111.05 per share, for a total transaction of $1,998,900.00. Following the completion of the transaction, the director now owns 864 shares of the company’s stock, valued at approximately $95,947.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Todd A. Combs bought 13,000 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The shares were acquired at an average price of $114.61 per share, with a total value of $1,489,930.00. Following the completion of the transaction, the director now directly owns 18,277 shares of the company’s stock, valued at approximately $2,094,726.97. The disclosure for this purchase can be found here. Insiders have bought 53,000 shares of company stock valued at $25,488,830 over the last three months. 0.73% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Osborn Williams & Donohoe LLC boosted its position in shares of JPMorgan Chase & Co. by 0.7% in the fourth quarter. Osborn Williams & Donohoe LLC now owns 77,947 shares of the financial services provider’s stock worth $8,336,000 after purchasing an additional 558 shares during the period. Narwhal Capital Management boosted its position in shares of JPMorgan Chase & Co. by 4.6% in the fourth quarter. Narwhal Capital Management now owns 97,459 shares of the financial services provider’s stock worth $10,422,000 after purchasing an additional 4,285 shares during the period. Personal Capital Advisors Corp boosted its position in shares of JPMorgan Chase & Co. by 1.1% in the fourth quarter. Personal Capital Advisors Corp now owns 63,004 shares of the financial services provider’s stock worth $6,738,000 after purchasing an additional 657 shares during the period. Lockheed Martin Investment Management Co. boosted its position in shares of JPMorgan Chase & Co. by 40.0% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 81,200 shares of the financial services provider’s stock worth $8,684,000 after purchasing an additional 23,200 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of JPMorgan Chase & Co. by 7.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 808,379 shares of the financial services provider’s stock worth $88,897,000 after purchasing an additional 53,442 shares during the period. Institutional investors own 72.01% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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