RESEARCH REPORT
JP Morgan Chase & Co.
JPM
$337.04
As of 2026-11-01
Research note — 2026-11-01. Educational analysis, not financial advice.
The one-line version
JP Morgan Chase & Co. trades near $337.04 on a trailing multiple of about 14.1x versus its own 5-year median near 13.3x, against contested Street targets and the usual concentration and execution risks. That's the tension. Everything below is the detail.
That's the tension. Everything below is the detail.
1. What you're paying
| Now | Its own 5-year median | Gap | |
|---|---|---|---|
| P/E (trailing) | ~14.1 | ~13.3 | +7% |
| P/E (forward) | ~13.2 | — | — |
| EPS (TTM) | 23.84 | — | — |
| Gross margin | n/a% | — | — |
What that means in plain terms: the gap versus the company's own history is the growth or durability the market is already pricing. It is not automatically wrong — it is the bet.
Fair-value anchors on file:
- 5-year median P/E multiple: $316.13 — Applies the 5-year median multiple (13.3x) to trailing EPS.
- Street mean target: $373.26 — Average published analyst target.
- Street target midpoint: $368.50 — Midpoint of $312.00–$425.00 published range.
Street targets run from $312.00 to $425.00. A wide spread means the name is contested, not consensus.
2. What the bulls are counting on
- What the Big Banks' Third-Quarter Reports Say About Credit Card Borrowers
- JPMorgan Has Returned 159% in Three Years. After Its First Miss Since 2023, Take Profits or bullish More?
- Jamie Dimon warns US savers about Washington’s ‘heroin’ effect — it could crush you. Here’s how his bank protects itself
Sign up free to read the full analysis
Bull case, bear case, assumptions, and what to watch next.
3. What the bears see
- Here's Why I'm Buying Bitcoin Right Now
- Strategy Earnings: A Truly Staggering Revenue Miss (Rating Upgrade)
- Bank of America vs. JPMorgan Chase: Diverging Quarterly Revenue Trends for These Financial Giants
Sign up free to read the full analysis
Bull case, bear case, assumptions, and what to watch next.
4. What would have to be true
For the stock to justify ~14.1x rather than its 5-year ~13.3x, roughly all of the following need to neutral:
- Growth or margin durability shows up in the next several reports, not just in narrative.
- Key revenue concentrations survive competitive and regulatory pressure.
- Execution on the current product or services cycle stays on schedule.
- The Street target range compresses as results clarify the contested assumptions.
Ask yourself honestly: how many of those would you bet on individually? Multiply your answers together.
Sign up free to read the full analysis
Bull case, bear case, assumptions, and what to watch next.
5. What to watch next
- Next earnings date: 2027-01-14
- Trailing and forward multiples versus the company's own history
- Segment growth rates in the next 10-Q / earnings release
- Material Form 4 and 13F changes
- Whether the Street high-to-low target spread narrows or widens
Sign up free to read the full analysis
Bull case, bear case, assumptions, and what to watch next.
6. What this note does not do
It doesn't tell you to buy or sell. It won't, ever.
You have the valuation in context, the strongest version of both cases, and the specific assumptions the current price depends on. What you do with that depends on your time horizon, your existing exposure, your risk tolerance, and what else you could do with the money — none of which we know.
If you want someone to tell you what to do, you want a licensed financial adviser, and that is a genuinely reasonable thing to want.
Educational and informational purposes only. Not investment advice and not a recommendation to buy or sell any security. GetStockReport is not a registered investment adviser. Figures are as of 2026-11-01 and go stale quickly — verify against primary sources before acting. All investments carry risk including loss of principal. Past performance does not guarantee future results.
8. Analyst ratings & targets
No recent activity
Analyst opinions change frequently. Past upgrades do not predict future returns.
9. Important news
Nov 4, 2026|What Does JPMorgan Chase (JPM) Gain From Its Dubai Push And US Hires?(Yahoo)
JPMorgan Chase (NYSE:JPM) secured approval to open a regulated private banking branch in Dubai International Financial Centre serving regional wealth clients. The new Dubai unit is intended to support high net worth individuals and families across the Middle East, Africa, and South Asia. J.P. Morgan also hired senior private banking advisers in California and the Southeast United States who previously worked at Merrill Lynch. The Dubai DIFC branch launch and Merrill Lynch hires tell only...
Nov 4, 2026|JPMorgan Trading Desk Sees Tech Rebounding After Midterms(Yahoo)
US stocks climbed Wednesday after reversing earlier losses as investors assessed the outcome of the midterm elections, with JPMorgan Chase & Co.’s trading desk expecting technology stocks to rebound and a market rally to broaden beyond a narrow group of megacap winners.
Nov 4, 2026|Morgan Stanley Tokenizes U.S. Equities(Yahoo)
Investment bank Morgan Stanley (NYSE: $MS) has moved quickly to tokenize U.S. equities following the launch of new ...
Nov 4, 2026|How Will Automation and Kinexys Drive JPMorgan's Payments Growth?(Yahoo)
JPM's automation and Kinexys blockchain platform are boosting payment efficiency, strengthening digital treasury services and supporting long-term growth.
Nov 4, 2026|Tetragon Financial Group Limited Announcement of Tender Offer to Purchase $50,000,000 of Tetragon Non-Voting Shares(Yahoo)
Tetragon today announces the commencement of a tender offer to purchase a portion of its outstanding non-voting shares for a maximum aggregate payment of $50,000,000 in cash. The tender offer, which was initially announced by Tetragon on 27 October 2026, will be conducted as a "modified Dutch auction" with shareholders able to tender their Tetragon non-voting shares at prices ranging from and including $15.00 up to and including $16.75 per share. The tender offer is expected to expire at 11:59 p
News headlines are reported as-is. Verify important claims with original sources.
10. Insider Form 4 activity
| Date | Executive | Action | Shares | Value |
|---|---|---|---|---|
| Oct 14, 2026 | BURKE STEPHEN B | Sell | 30,000 | $0 |
Form 4 filings are routine transactions. Scheduled sales (10b5-1 plans) are normal and not signals.
11. Institutional 13F holdings
| Fund | Shares | Position | Change |
|---|---|---|---|
| Vanguard Group | 238,945,907 | $77.0B | — |
| State Street | 125,209,293 | $41.0B | — |
| BlackRock | 71,012,278 | $14.4B | — |
| BlackRock Institutional Trust | 20,965,094 | $1.8B | — |
These are 45-day lagged filings (SEC requirement). Position changes happened in the past.
12. Earnings this week
No recent activity
Earnings dates are estimates and may shift. EPS estimates are consensus, not predictions.