How Will JPMorgan (JPM) Stock Be Affected By Hacking Attack?

NEW YORK (TheStreet) -- JPMorgan Chase & Co. (JPM) is working with the FBI to investigate a possible hacking attack at the company, and four other financial institutions, the Wall Street Journal reports.

Shares of JPMorgan are down -0.86% to $59.08 in mid-morning trading on Thursday.

The exact timing and extent of the hackings haven't been determined, but cyber security experts began to look into the attacks at JPMorgan earlier this month, sources told the Journal.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

The hackers used the person computer of a JPMorgan employee to access the company's network.

The company announced this morning that it has not seen any "unusual fraud" and said it's working closely with investigators to determine the depth of the hacks, and will take "additional steps" to keep sensitive and confidential information safe, the Journal added.

Separately, TheStreet Ratings team rates JPMORGAN CHASE & CO as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate JPMORGAN CHASE & CO (JPM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

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