Ex-First Republic Executive Joins $4 Billion Pennington Partners

Written by Emily J. Thompson, Senior Investment Analyst

JPM-1.95%

Source: Barron's

Updated: Jan 13 2025

0mins

Source: Barron's

Former Executive Transition: Chris Wolfe, ex-CIO of First Republic's private wealth management unit, has joined Pennington Partners as CIO, attracted by the opportunity to work closely with clients in a smaller organization and reconnect with CEO Brian Gaister.
Growth of Family Offices: The number of family offices is projected to increase significantly, with Deloitte estimating over 10,720 worldwide by 2030, leading to a rise in total assets under management to $5.4 trillion, highlighting a shift towards personalized wealth management services.

JPM

$297.72+Infinity%1D

Analyst Views on JPM

Wall Street analysts forecast JPM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for JPM is 341.38 USD with a low forecast of 260.00 USD and a high forecast of 400.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

19 Analyst Rating

11 Buy

7 Hold

1 Sell

Moderate Buy

Current: 303.630

Low

260.00

Averages

341.38

High

400.00

Current: 303.630

Low

260.00

Averages

341.38

High

400.00

HSBC

Saul Martinez

Hold

maintain

$237 -> $245

2026-01-07

Reason

HSBC

Saul Martinez

Price Target

$237 -> $245

AI Analysis

2026-01-07

maintain

Hold

Reason

HSBC analyst Saul Martinez raised the firm's price target on JPMorgan to $245 from $237 and keeps a Hold rating on the shares. Bank stocks have pulled back, offering selective opportunities to add exposure, says the analyst, who raised the firm's 2025-26 adjusted EPS estimates among the group by about 1%-7% to incorporate higher net interest income, investment banking fees, and share repurchase estimates.

TD Cowen

Buy

maintain

$375 -> $400

2026-01-07

Reason

TD Cowen

Price Target

$375 -> $400

2026-01-07

maintain

Buy

Reason

TD Cowen raised the firm's price target on JPMorgan to $400 from $375 and keeps a Buy rating on the shares. The firm adjusted bank targets as part of a Q4 earnings preview. TD expects "solid" Q4 reports for the banks with continued balance sheet growth, repricing tailwinds, and a "likely more dovish" Federal Reserve chair in 2026. These "durable tailwinds" should lift bank stocks in 2026, the analyst tells investors in a research note.

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Wolfe Research

Outperform -> Peer Perform

downgrade

2026-01-07

Reason

Wolfe Research

Price Target

2026-01-07

downgrade

Outperform -> Peer Perform

Reason

Wolfe Research downgraded JPMorgan to Peer Perform from Outperform.

Truist

John McDonald

Hold

maintain

$330 -> $331

2026-01-06

Reason

Truist

John McDonald

Price Target

$330 -> $331

2026-01-06

maintain

Hold

Reason

Truist analyst John McDonald raised the firm's price target on JPMorgan to $331 from $330 and keeps a Hold rating on the shares. Core themes for the U.S. large-cap banks feel similar to last year's, including ROTCE expansion levers, net interest margin healing, capital return, positive operating leverage capacity, and whether GSIBs can continue to outperform regionals, the analyst tells investors in a research note. Each of the stocks in the firm's large-cap banks universe has an attractive mix of EPS growth and ROTCE expansion drivers, which set up a solid outlook for 2026, Truist says.

About JPM

JPMorgan Chase & Co. is a financial holding company. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. The Company operates through three segments: Consumer & Community Banking (CCB), Commercial & Investment Bank (CIB), and Asset & Wealth Management (AWM). Its CCB segment offers products and services to consumers and small businesses through bank branches, ATMs, digital and telephone banking. Its CIB segment consists of banking and payments and markets and securities services, and offers a suite of investment banking, lending, payments, market-making, financing, custody and securities products and services to a global base of corporate and institutional clients. AWM segment offers investment and wealth management solutions. It offers multi-asset investment management solutions, retirement products and services, brokerage, custody, estate planning, and others.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.