J.P. Morgan Chase & Co. /zigman2/quotes/205971034/composite JPM +0.86% was downgraded to hold from buy by analyst Ken Usdin at Jefferies, who said revenue could miss high expectations following "excellent" results last year. the stock edged up 0.1% in morning trade. Usdin said net interest income could fall shy of forecasts, given potential for fewer interest rate increases by the Federal Reserve this year. He said fees could miss expectations, given lower trading and investment banking, asset management and mortgage fees. After being the best performer of the large-capitalization banks in 2018, Usdin said the stock now trades at a premium valuation around 5-year highs. "We believe the premium gained over the past year is fully justified, but would anticipate additional re-rating above the group as harder from here," Usdin wrote in a note to clients. The stock lost 8.7% in 2018, while the SPDR S&P Bank ETF /zigman2/quotes/201006419/composite KBE +0.79% tumbled 21.1% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.44% fell 5.6%. Separately, Jefferies also downgraded SunTrust Banks Inc. , U.S. Bancorp /zigman2/quotes/206934678/composite USB +0.71% and Texas Capital Bancshares Inc. /zigman2/quotes/206715243/composite TCBI +1.09% to hold from buy, andupgraded Associated Banc-Corp. /zigman2/quotes/205616505/composite ASB +1.68% to buy from hold.