JPMorgan Chase (JPM) Stock Today: Edges Above $306 as Wells Fargo Lifts Target to $350

New York – November 26, 2025 — JPMorgan Chase & Co. (NYSE: JPM) shares traded around $306–307 on Wednesday, extending this week’s rally as Wall Street leans into expectations of Fed rate cuts and fresh analyst optimism on big U.S. banks. Intraday data show JPMorgan changing hands just above $306 with a day range roughly between $303 and $307, modestly higher — around +1% versus Tuesday’s close near $303. ^[1]

The move leaves JPMorgan within striking distance of its 52‑week high near $322, set earlier in November, and keeps the stock firmly in the leaders’ column among large U.S. financials. ^[2]

JPM Stock Price Snapshot for November 26, 2025

Last price (midday/late session): about $306–307 per share
Daily range: roughly $303–307 so far
Previous close (Nov 25):$303.00
Move on the day: up roughly 0.9–1.2% as of the latest trade data
52‑week range: about $202 (low) to $322 (high) ^[3]

MarketBeat’s snapshot of JPMorgan lists a market capitalization around $825 billion and a price‑to‑earnings ratio near 15, placing the stock at a premium to many regional banks but still in line with other global money‑center peers. ^[4]

Today’s action follows a strong multi‑month run: over the past year, data providers estimate JPM shares have gained more than 20%, boosted by better‑than‑expected earnings and a reset in interest‑rate expectations. ^[5]

Why JPMorgan Shares Are Higher Today

1. Wells Fargo lifts price target to $350 and stays bullish

The highest‑profile catalyst today is a fresh Wells Fargo price‑target hike that was picked up and amplified by market media overnight.

An article published in the early hours of November 26, 2025 notes that Wells Fargo raised its target on JPMorgan from $345 to $350, reiterating an Overweight rating on the stock. ^[6]

The same piece highlights JPMorgan’s standout profitability:

Return on tangible common equity (ROTCE): ~20% in Q3 2025
Q3 2025 revenue: about $47.1 billion, up roughly 9–10% year‑on‑year ^[7]

Those numbers aren’t new, but Wells Fargo’s renewed conviction at higher price levels is a fresh signal that at least some large‑cap bank specialists still see upside from here. For Google Discover and retail readers, the headline takeaway is simple: a major Wall Street bank just told its clients JPM shares could reasonably trade closer to $350 in the medium term.

Importantly, that call comes on top of other recent positive analyst commentary. MarketBeat’s roundup today shows Truist, UBS and Goldman Sachs also carrying targets in the low‑to‑mid $300s with “hold” to “buy” ratings, underscoring broad institutional support. ^[8]

2. Q3 2025 results still underpin the bull case

Under the hood, analysts are still pointing back to JPMorgan’s Q3 2025 earnings as the fundamental backbone of today’s optimism:

Net income: about $14.4 billion, up 12% year‑on‑year
Net revenue: around $47.1 billion, up roughly 9%
ROTCE:20%, at the top end of the big‑bank group
Markets revenue: near $8.9 billion, up about 25% year‑on‑year ^[9]

That combination — double‑digit earnings growth, robust trading revenue, and still‑elevated returns on capital — is what allows strategists like Wells Fargo’s team to defend higher targets even after a large year‑to‑date run.

Macro Backdrop: Fed Pivot Hopes Are Good News for Big Banks

JPMorgan’s move today is happening against a very supportive macro backdrop.

Multiple market reports this morning describe U.S. stock indices extending a winning streak as traders increasingly price in aggressive Federal Reserve rate cuts into 2026:

AP‑syndicated coverage notes the S&P 500 up about 0.5%, the Dow gaining 0.4%, and the Nasdaq up roughly 0.6% in early trade. ^[10]
A Bloomberg market wrap says U.S. stocks have climbed as rate‑cut expectations carried new optimism into the Thanksgiving break. ^[11]
Another intraday recap describes U.S. markets “surging” as investors extend a remarkable winning streak built on the dovish Fed narrative. ^[12]

For large diversified banks like JPMorgan, the story is nuanced:

Falling long‑term yields can pressure net interest income over time.
But a risk‑on equity rally and tighter credit spreads tend to boost investment‑banking, trading, asset management and wealth fees.
Lower recession odds reduce near‑term concerns about credit losses.

Zacks this morning specifically flagged JPMorgan, Bank of America and Goldman Sachs as big beneficiaries of a surge in fixed‑income trading, helped by shifting rate expectations and a steepening yield curve that drives bond‑market activity. ^[13]

Taken together, it’s not surprising to see JPMorgan tracking — and slightly outperforming — the broader financials complex on a day when the market is leaning hard into a “soft landing plus cuts” scenario.

Fresh Capital Markets Activity: New Notes and Crypto-Linked Structures

Another part of today’s narrative is JPMorgan’s continued presence in capital markets and structured products, which reinforces the breadth of the franchise.

Callable step‑up notes due 2049

A new 424B2 prospectus supplement dated this week details JPMorgan’s issuance of $4.5 million in callable step‑up fixed‑rate notes due November 26, 2049. Key terms, summarized by StockTitan and related filings: ^[14]

Coupon:
- 5.40% per year from Nov 26, 2025 – Nov 26, 2033
- 5.50% from 2033 – 2041
- 5.60% from 2041 – 2049
Call features: The notes are callable at par plus accrued interest on May 26 and November 26, starting in 2029.
Structure: Unsecured obligations of JPMorgan Chase & Co., meaning they sit structurally below creditors of operating subsidiaries in a resolution scenario.

It’s a small, routine funding transaction relative to JPMorgan’s $4.6 trillion asset base, but it’s another sign of the bank steadily locking in term funding at fixed rates while investors remain hungry for yield. ^[15]

Bitcoin‑linked and ETF‑linked notes

On the more eye‑catching side, crypto outlets and structured‑product trackers today are highlighting JPMorgan’s move into Bitcoin‑linked structured notes:

One report describes JPMorgan filing for Bitcoin‑backed notes tied to BlackRock’s IBIT ETF, with industry figures like Anthony Scaramucci calling the move “huge” for institutional crypto adoption. ^[16]
Another article outlines an IBIT‑linked note calibrated around the 2028 Bitcoin halving cycle, positioning it as part of a broader wave of institutionalized Bitcoin exposures. ^[17]

These are niche products, but they underscore two things important for JPM stockholders:

Innovation: JPMorgan continues to design sophisticated instruments for yield‑hungry or crypto‑curious institutions, generating fee revenue without necessarily holding crypto on its own balance sheet.
Competitive positioning: As more traditional asset managers and indices incorporate digital assets, JPMorgan’s ability to structure and distribute these notes helps it defend share in a fast‑changing market.

Institutional Investors Are Actively Rebalancing JPM Positions

Today also brings a wave of 13F‑based institutional holdings headlines for JPM stock, giving a granular look at who’s buying and selling.

MarketBeat‑compiled filings published on November 26, 2025 show:

Westpac Banking Corp increased its JPM stake by 43.4% in Q2, to about 91,428 shares worth $26.5 million. JPM now represents roughly 1.8% of Westpac’s portfolio, its 8th‑largest holding. ^[18]
Dorsey & Whitney Trust Co. LLC trimmed its position by 1.1%, still holding about 128,000 shares worth $37.1 million, making JPM its 10th‑largest position at roughly 2% of assets. ^[19]
Poehling Capital Management cut its stake by 78.2%, ending Q2 with 4,254 shares worth around $1.2 million. ^[20]
LSV Asset Management reduced its holding by 2.9%, but remains a major holder with roughly 690,000 shares valued near $200 million. ^[21]

The same round‑up notes that institutional investors and hedge funds collectively own about 71–72% of JPMorgan’s outstanding shares, a high level of professional ownership for a mega‑cap stock. ^[22]

For everyday investors, the message isn’t that one specific fund sold or bought; it’s that capital is actively rotating within JPMorgan, but net institutional interest remains very strong.

ESG and Franchise Strength: Housing, Fraud Prevention and National Security

Although not all of this dropped today, several late‑November initiatives are shaping how long‑term investors view JPMorgan’s franchise and brand:

Affordable housing & philanthropy
An official press release last week announced more than $40 million in new philanthropic funding to increase housing supply, alongside over $5 billion in debt and equity JPMorgan extended for affordable housing in 2025. ^[23]
Fraud and scam‑prevention push
On November 17, JPMorganChase unveiled what it calls the largest fraud‑prevention initiative in its history, focused on consumer education, prevention tools and continued operational investments. ^[24]
National security and strategic industries
In October, Reuters reported that JPMorgan is reorganizing leadership around a $1.5 trillion initiative aimed at financing companies critical to U.S. national security — part of a broader commitment to invest up to $10 billion in key strategic sectors. ^[25]

While these stories don’t typically move JPM stock on a single day, they increasingly matter for ESG‑minded investors, index providers and regulators — and they help explain why many analysts still see JPMorgan as the “default” core holding in global banking.

Key Risks in Focus Today: Cybersecurity and Data Exposure

One negative storyline still lingering in the background is cyber risk.

Over the weekend, Reuters reported that client data for several major banks — including JPMorgan, Citigroup and Morgan Stanley — may have been exposed in a cyberattack on tech vendor SitusAMC earlier this month. ^[26]

According to the report:

The November 12 attack compromised some data on SitusAMC’s systems, including accounting documents and legal contracts tied to clients.
The firm said the incident has been contained, systems are fully operational, and no ransomware encryption was involved.
Law enforcement has been notified, and early statements from U.S. authorities suggest no operational impact on banking services so far.

For JPMorgan shareholders, the incident is more of a headline and reputational risk than a balance‑sheet event at this stage. Still, it reinforces why JPM — and all big banks — continue to pour billions into cybersecurity, vendor oversight and data‑sharing frameworks.

What Comes Next for JPM Stock

Earnings and guidance

Looking ahead, calendars from several data providers indicate that JPMorgan is scheduled to report Q4 2025 results on January 13, 2026, before the market opens. ^[27]

Analysts currently expect:

Full‑year 2025 EPS in the high teens, building on Q3’s $5.07 per share. ^[28]
Net interest income to moderate as rates fall, but fees and trading revenue to stay robust if markets remain active. ^[29]

Strategy views from inside JPMorgan

JPMorgan’s own strategists are also shaping the conversation around risk assets:

A widely shared note today projects the S&P 500 reaching around 7,500 in 2026, with a bull‑case scenario above 8,000 if the Fed continues cutting rates aggressively. ^[30]
Separate commentary from JPMorgan’s private bank outlines a bull case of roughly 20% upside in the S&P 500 by 2027, positioning equities as still attractive over a multi‑year horizon. ^[31]

Those calls don’t guarantee anything for JPM shares, of course, but they highlight how JPMorgan itself is leaning more constructive on U.S. risk assets — a stance that tends to support appetite for its own stock, too.

Bottom Line: How Today’s Move Fits the Bigger Picture

Putting it all together, JPMorgan Chase stock’s climb to the $306+ area on November 26, 2025 reflects a mix of fresh bullish catalysts and ongoing fundamental strength:

Analyst momentum: Wells Fargo’s higher $350 price target and Overweight rating reinforce JPM’s status as a go‑to large‑cap bank holding. ^[32]
Macro tailwinds: A broader market rally fueled by rate‑cut hopes is lifting big banks, with fixed‑income trading, equity markets and deal pipelines all benefiting. ^[33]
Solid fundamentals: Q3 numbers delivered double‑digit earnings growth and top‑tier returns on tangible equity, giving analysts confidence to defend higher valuations. ^[34]
Active capital markets & innovation: New step‑up notes, Bitcoin‑linked structures, and ongoing strategic initiatives reinforce JPMorgan’s reach across traditional and emerging asset classes. ^[35]
Risks remain: The SitusAMC data‑exposure incident is a reminder that cyber and third‑party risks never fully disappear — and that investors should keep one eye on operational resilience. ^[36]

For readers tracking JPM stock today, the story is less about a single dramatic headline and more about a steady grind higher, powered by analyst upgrades, macro optimism and a franchise that continues to execute across lending, markets, payments, and wealth.