Analyst Glenn Thum of Phillip Securities maintained a Hold rating on JPMorgan Chase, with a price target of $305.00.
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Glenn Thum has given his Hold rating due to a combination of factors impacting JPMorgan Chase’s financial outlook. The company’s earnings for the third quarter of 2025 showed a 12% year-over-year increase, supported by trading, asset management, and investment banking income, but fell short of expectations. While non-interest income was a significant growth driver, the net interest income saw only a slight increase due to a decline in net interest margin.
Despite the positive revenue growth across all segments, Thum remains cautious due to macroeconomic uncertainties such as trade tensions and policy changes, which could lead to increased provisions and non-performing loans. Additionally, potential interest rate cuts pose a risk to net interest income and margin expectations. The current valuations are also considered full, with the price-to-earnings and price-to-book ratios exceeding their historical averages, leading to a neutral stance on the stock.
Based on the recent corporate insider activity of 93 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of JPM in relation to earlier this year.