Worth Watching: JPMorgan Chase & Co. Just Reaches All Time High?

Worth Watching: JPMorgan Chase & Co. Just Reaches All Time High?

The stock of JPMorgan Chase & Co. (NYSE:JPM) reached all time high today, Dec, 1 and still has $87.17 target or 7.00% above today’s $81.47 share price. This indicates more upside for the $296.14B company. This technical setup was reported by Barchart.com. If the $87.17 PT is reached, the company will be worth $20.73B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 4.59 million 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 $5.09B 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. JPMorgan Chase & Co has been the topic of 46 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Monday, August 17 the stock rating was upgraded by KBW to “Outperform”. The firm has “Neutral” rating given on Wednesday, November 9 by Robert W. Baird. The firm has “Buy” rating by Argus Research given on Wednesday, October 14. The rating was downgraded by Nomura to “Neutral” on Monday, January 25. Buckingham Research downgraded JPMorgan Chase & Co. (NYSE:JPM) on Monday, October 17 to “Neutral” rating. The firm has “Buy” rating given on Wednesday, August 12 by Deutsche Bank. The company was maintained on Thursday, April 14 by Nomura. The stock has “Overweight” rating given by Atlantic Securities on Monday, January 18. The firm has “Buy” rating by Argus Research given on Friday, January 15. CLSA upgraded JPMorgan Chase & Co. (NYSE:JPM) on Tuesday, August 25 to “Outperform” rating.

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 Q2 2016. Its down 0.01, from 0.98 in 2016Q1. The ratio turned negative, 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.
Lloyds Banking Public Ltd Company has invested 14.78% of its portfolio in JPMorgan Chase & Co. (NYSE:JPM). Dorsey & Whitney Trust Ltd Liability Company holds 0.65% of its portfolio in JPMorgan Chase & Co. (NYSE:JPM) for 45,616 shares. Bokf Na last reported 298,480 shares in the company. Rowland Counsel Adv last reported 0% of its portfolio in the stock. Clark Estates New York, a New York-based fund reported 125,550 shares. Rnc Capital Mgmt Ltd last reported 2.23% of its portfolio in the stock. Livforsakringsbolaget Skandia Omsesidigt owns 511,492 shares or 1.41% of their US portfolio. Schafer Cullen Capital has invested 1.95% of its portfolio in JPMorgan Chase & Co. (NYSE:JPM). Hellman Jordan Mgmt Communication Ma has invested 2.4% of its portfolio in JPMorgan Chase & Co. (NYSE:JPM). Wealth Enhancement Advisory Svcs Ltd Com holds 0.23% of its portfolio in JPMorgan Chase & Co. (NYSE:JPM) for 20,836 shares. Eqis Capital Mgmt accumulated 16,472 shares or 0.07% of the stock. Hexavest accumulated 26,729 shares or 0.03% of the stock. Heritage Investors has 315,819 shares for 1.48% of their US portfolio. Cohen Mgmt accumulated 2.83% or 156,375 shares. Crawford Inv Counsel holds 0.07% of its portfolio in JPMorgan Chase & Co. (NYSE:JPM) for 28,548 shares.

Insider Transactions: Since July 15, 2016, the stock had 1 insider purchase, and 7 sales for $5.85 million net activity. Shares for $255,059 were sold by Zames Matthew E. $144,904 worth of JPMorgan Chase & Co. (NYSE:JPM) was sold by Friedman Stacey. $992,830 worth of JPMorgan Chase & Co. (NYSE:JPM) was sold by BACON ASHLEY. Shares for $278,621 were sold by O’Donovan Mark on Tuesday, October 25. Lake Marianne sold $947,237 worth of JPMorgan Chase & Co. (NYSE:JPM) on Monday, October 17. $2,781 worth of JPMorgan Chase & Co. (NYSE:JPM) was bought by JACKSON LABAN. On Monday, October 17 Erdoes Mary E. sold $1.72M worth of the stock or 25,542 shares.

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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