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These firms leading the way in Instiutional Investor analyst rankings

JPMorgan Chase headquarters building
Scott Mlyn | CNBC

JPMorgan Chase and Bank of America Merrill Lynch are at the front of the class when it comes to the best stock market analysts, though there's a new No. 1 in the individual rankings released Wednesday by Institutional Investor.

BofAML actually had the most analysts on the list, with 38, while JPMorgan collected the greatest amount of first-place finishers in the respective sectors the publication breaks down, with 14. JPMorgan placed 36 analysts on the overall list, while Barclays, Evercore ISI and Morgan Stanley had 25 each.

There were 285 individual analysts representing 41 firms singled out for their performance, 15 of which had at least one top-ranked analyst.

The full II report can be accessed here.

One of the more surprising developments was the emergence of a new top economic analyst: Ed Hyman, who had held the top spot for 35 years while at ISI, dropped to second behind Nancy Lazar, who co-founded ISI with Hyman but now is at Cornerstone Macro.