U.S. Bancorp (NYSE:USB) Price Target Lowered to $57.50 at JPMorgan Chase & Co.

U.S. Bancorp (NYSE:USB) had its price target dropped by JPMorgan Chase & Co. from $58.00 to $57.50 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 1.31% from the company’s previous close.

USB has been the subject of several other reports. Evercore lifted their price objective on U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Jefferies Financial Group reaffirmed a “hold” rating and set a $60.00 price objective on shares of U.S. Bancorp in a report on Thursday, April 16th. Truist Financial reduced their price objective on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a report on Friday, April 17th. Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Finally, Keefe, Bruyette & Woods boosted their price target on U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $61.20.

U.S. Bancorp Price Performance

USB stock traded up $0.59 during midday trading on Thursday, hitting $56.76. 10,918,633 shares of the stock were exchanged, compared to its average volume of 10,765,871. The stock’s 50-day moving average price is $54.12 and its 200-day moving average price is $52.84. The stock has a market cap of $88.10 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.01 and a beta of 1.01. U.S. Bancorp has a fifty-two week low of $39.99 and a fifty-two week high of $61.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a return on equity of 18.26% and a net margin of 18.01%.U.S. Bancorp’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 earnings per share. Research analysts predict that U.S. Bancorp will post 5.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider owned 97,728 shares of the company’s stock, valued at $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in USB. Brighton Jones LLC grew its position in shares of U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after purchasing an additional 36,863 shares during the period. Empowered Funds LLC grew its position in shares of U.S. Bancorp by 2.1% in the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 714 shares during the period. Intech Investment Management LLC grew its position in shares of U.S. Bancorp by 18.9% in the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 6,252 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of U.S. Bancorp in the second quarter valued at $425,000. Finally, Nebula Research & Development LLC purchased a new stake in shares of U.S. Bancorp in the second quarter valued at $701,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.