Today’s Stock On Watch: What’s Next for JPMorgan Chase & Co. After Reaching 52-Week High?

Today's Stock On Watch: What's Next for JPMorgan Chase & Co. After Reaching 52 Week High?

The stock of JPMorgan Chase & Co. (NYSE:JPM) hit a new 52-week high and has $88.79 target or 9.00% above today’s $81.46 share price. The 9 months bullish chart indicates low risk for the $296.10B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $88.79 price target is reached, the company will be worth $26.65B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.65M shares traded hands. JPMorgan Chase & Co. (NYSE:JPM) has risen 26.05% since April 28, 2016 and is uptrending. It has outperformed by 20.13% the S&P500.

Analysts await JPMorgan Chase & Co. (NYSE:JPM) to report earnings on January, 13 before the open. They expect $1.40 EPS, up 3.70% or $0.05 from last year’s $1.35 per share. JPM’s profit will be $5.09 billion for 14.55 P/E if the $1.40 EPS becomes a reality. After $1.58 actual EPS reported by JPMorgan Chase & Co. for the previous quarter, Wall Street now forecasts -11.39% negative EPS growth.

JPMorgan Chase & Co. (NYSE:JPM) Ratings Coverage

Out of 23 analysts covering JPMorgan Chase & Co (NYSE:JPM), 13 rate it a “Buy”, 2 “Sell”, while 8 “Hold”. This means 57% are positive. $79 is the highest target while $52 is the lowest. The $71.78 average target is -11.88% below today’s ($81.46) stock price. JPMorgan Chase & Co has been the topic of 46 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Monday, January 18 the stock rating was maintained by UBS with “Neutral”. The rating was downgraded by Portales Partners to “Underperform” on Monday, February 22. As per Friday, September 9, the company rating was downgraded by Macquarie Research. The stock has “Buy” rating given by Jefferies on Monday, October 10. The stock of JPMorgan Chase & Co. (NYSE:JPM) earned “Neutral” rating by Nomura on Wednesday, September 7. Vetr downgraded JPMorgan Chase & Co. (NYSE:JPM) rating on Friday, August 28. Vetr has “Strong-Buy” rating and $71.61 price target. The company was maintained on Thursday, April 14 by Nomura. Jefferies maintained it with “Buy” rating and $71 target price in Wednesday, October 7 report. The stock of JPMorgan Chase & Co. (NYSE:JPM) earned “Outperform” rating by KBW on Monday, August 17. The firm has “Outperform” rating given on Tuesday, August 25 by Credit Agricole.

According to Zacks Investment Research, “JPMorgan Chase & Co. is a financial services firm. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management and private equity. It offers various investment banking products and services, including advising on corporate strategy and structure, capital-raising in equity and debt markets, risk management, market-making in cash securities and derivative instruments, prime brokerage. It also offers consumer and business, and mortgage banking products and services that include checking and savings accounts, mortgages, home equity and business loans, and investments. JPMorgan Chase & Co. is headquartered in New York.”

Insitutional Activity: The institutional sentiment decreased to 0.97 in 2016 Q2. Its down 0.01, from 0.98 in 2016Q1. The ratio worsened, as 84 funds sold all JPMorgan Chase & Co. shares owned while 683 reduced positions. 100 funds bought stakes while 650 increased positions. They now own 2.60 billion shares or 1.74% less from 2.64 billion shares in 2016Q1.
Ironwood Mgmt Llc has 0.19% invested in the company for 4,118 shares. Broadview Advsrs Llc holds 5,850 shares or 0.05% of its portfolio. Engineers Gate Manager L P has 131,615 shares for 0.59% of their US portfolio. Private Mngmt Grp Inc has 3.55% invested in the company for 867,953 shares. Ca reported 95,863 shares or 0.43% of all its holdings. Private Tru Na holds 88,622 shares or 1.43% of its portfolio. Associated Banc reported 414,843 shares or 1.66% of all its holdings. Moreover, Bb&T Corp has 0.33% invested in JPMorgan Chase & Co. (NYSE:JPM) for 254,098 shares. Allsquare Wealth Mgmt Lc holds 0.59% or 9,482 shares in its portfolio. Menora Mivtachim Ltd reported 1.21M shares or 4.23% of all its holdings. Bahl And Gaynor accumulated 2.92 million shares or 2.36% of the stock. Chilton Mgmt Ltd Liability Co last reported 18,768 shares in the company. Shinko Asset reported 14,192 shares or 0.01% of all its holdings. Moreover, 1St Global Advisors has 0.34% invested in JPMorgan Chase & Co. (NYSE:JPM) for 39,653 shares. Gsa Cap Ptnrs Ltd Liability Partnership holds 0.05% of its portfolio in JPMorgan Chase & Co. (NYSE:JPM) for 14,836 shares.

Insider Transactions: Since July 15, 2016, the stock had 1 insider buy, and 7 insider sales for $5.85 million net activity. Shares for $1.52 million were sold by Smith Gordon. BACON ASHLEY also sold $992,830 worth of JPMorgan Chase & Co. (NYSE:JPM) shares. Shares for $947,237 were sold by Lake Marianne. $278,621 worth of JPMorgan Chase & Co. (NYSE:JPM) was sold by O’Donovan Mark on Tuesday, October 25. $144,904 worth of JPMorgan Chase & Co. (NYSE:JPM) was sold by Friedman Stacey on Tuesday, October 25. The insider JACKSON LABAN bought 40 shares worth $2,781. Erdoes Mary E. also sold $1.72M worth of JPMorgan Chase & Co. (NYSE:JPM) on Monday, October 17.

Another recent and important JPMorgan Chase & Co. (NYSE:JPM) news was published by Seekingalpha.com which published an article titled: “How Yields Impact Banks Like Bank Of America, Citigroup, And JPMorgan Chase & Co.” on November 30, 2016.

JPM Company Profile

JPMorgan Chase & Co. (JPMorgan Chase), incorporated on October 28, 1968, is a financial holding company. The Firm is engaged in investment banking, financial services for clients and small businesses, commercial banking, financial transaction processing and asset management. JPMorgan Chase’s activities are organized into four business divisions, as well as a Corporate segment. The Company’s divisions are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Company’s principal bank subsidiaries are JPMorgan Chase Bank, National Association (JPMorgan Chase Bank, N.A.), a national banking association with branches in over 20 states, and Chase Bank USA, National Association (Chase Bank USA, N.A.), a national banking association that is the Company’s credit card-issuing bank. JPMorgan Chase’s principal nonbank subsidiary is J.P. Morgan Securities LLC (JPMorgan Securities), the Company’s the United States investment banking firm. The bank and nonbank subsidiaries of JPMorgan Chase operate nationally, as well as through overseas branches and subsidiaries, representative offices and subsidiary foreign banks. The Company’s principal operating subsidiary in the United Kingdom is J.P. Morgan Securities plc, a subsidiary of JPMorgan Chase Bank, N.A.

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