5 Best Falling Stocks To Buy Now

3. JPMorgan Chase & Co. (NYSE:JPM)

Number of Hedge Fund Holders: 110

Year-to-Date Share Price Decline (as of August 9): 28.66%

JPMorgan Chase & Co. (NYSE:JPM) is the largest bank in the United States, offering a range of financial services such as investment banking, retail banking, wealth management and asset management. JPM shares are currently trading at a P/E (price to earnings) ratio of 9.24, and have shed 28.7% in value since the start of 2022, presenting an excellent buying opportunity for investors.

On July 18, Berenberg analyst Peter Richardson upgraded JPMorgan Chase & Co. (NYSE:JPM) to ‘Hold’ from ‘Sell’ with an unchanged price target of $120. Richardson sees JPM shares trading at a 20% discount to their long-run average, and given the temporary nature of the headwinds, the analyst sees downside risks to the bank’s share price as quite limited.

For the second quarter of 2022, JPMorgan Chase & Co. (NYSE:JPM) reported earnings per share of $2.76, falling short of market expectations by $0.14. Quarterly revenue of $30.72 billion also fell below estimates by $1.10 billion.
110 hedge funds held combined stakes worth $5.05 billion in JPMorgan Chase & Co. (NYSE:JPM) at the end of the first quarter of 2022, up from 107 hedge funds a quarter earlier. The bank’s largest Q1 shareholder was Fisher Asset Management with a massive $1.05 billion stake.

Carillon Tower Advisers talked about many stocks in its Q1 2022 investor letter, and JPMorgan Chase & Co. (NYSE:JPM) was one of them. It said:

“More cyclical sectors, including technology and consumer discretionary, were among the weakest, likely due to rising interest rates and inflation. It was encouraging to see the quarter finish on a strong note with the S&P 500 only about 5% away from its all-time highs. Shares of JPMorgan Chase (NYSE:JPM) detracted from performance due to the company’s increased expense guidance, announced in January.”