J.P. Morgan is up 13% over the past six months, but one firm thinks that run might be over.

Today Macquarie downgraded the stock from outperform to neutral, and cut its price target from $72 to $70.

The firm cited the bank's valuation as well as a challenging interest rate environment as reasons for the move.

The "Halftime Report" experts debated the call, as well as if now is the time to buy financials.

Trader disclosure: On September 9th the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Halftime Report" were owned by the "Halftime Report" traders:

Jim Lebenthal: LongAAPL, BA, C, CSCO, DCO, DIS, EEQ, GM, INTC, JCP, KMI, MPC, ORBC, PFE, QCOM,QRVO, SPLS, TIF, TRN, TWX, WGO

Josh Brown: LongAAPL, AMGN, BMY, CORE, DE, DNKN, GE, GOOGL, NVDA, SAM, SHAK, TWTR, XLE, YUM

Stephanie Link: Long AAPL, AGN, AIG, AMZN, APC, AVGO, BAC, BHI, C, CAG, CAT, CB, CIEN, CSCO, CVX,CXO, DOV, DOW, EL, ESRX, FB, GOOG, GOOGL, GS, HON, INTC, JPM, JWN, LLY, LOW,LPX, LRCX, M, MDLZ, MGM, MSFT, PANW, PG, PM, PPG, RTN, SLB, STI, SWK, TGT, UNH,UPS, URI, V, WBA, WBC, WFC, WMB, YUM, ZION

Jon Najarian: LongStock: BLUE, CSX, FNSR, GSAT, INO, LXRX, XON Long Calls: AAPL, BMY, FIT, FXI,GLD, KATE, MSFT, NFLX, NVAX, SCHW, TLRD, TWTR, WLL