U.S. Bancorp (NYSE:USB) Price Target Raised to $65.00

U.S. Bancorp (NYSE:USB) had its price target upped by investment analysts at JPMorgan Chase & Co. from $57.50 to $65.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 3.84% from the company’s current price.

Several other research firms have also commented on USB. DA Davidson reiterated a “buy” rating and issued a $65.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. Barclays upped their target price on U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Truist Financial increased their target price on U.S. Bancorp from $62.00 to $66.00 and gave the company a “buy” rating in a report on Friday, June 26th. Wells Fargo & Company raised their price target on U.S. Bancorp from $62.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Oppenheimer cut their price target on U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.31.

U.S. Bancorp Price Performance

Shares of USB opened at $62.60 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a twelve month low of $43.46 and a twelve month high of $62.48. The firm has a market capitalization of $97.10 billion, a PE ratio of 13.15, a P/E/G ratio of 1.07 and a beta of 0.96. The stock’s 50 day moving average is $56.57 and its two-hundred day moving average is $55.51.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 EPS. Research analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was 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 in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Brighton Jones LLC boosted its holdings in shares of U.S. Bancorp by 323.0% in the 4th 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 last quarter. Empowered Funds LLC raised its position in shares of U.S. Bancorp by 2.1% in the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock worth $1,453,000 after buying an additional 714 shares during the period. Intech Investment Management LLC boosted its holdings in 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 acquiring an additional 6,252 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in U.S. Bancorp during the second quarter valued at about $425,000. Finally, Nebula Research & Development LLC purchased a new stake in U.S. Bancorp during the second quarter valued at about $701,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

About U.S. Bancorp

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.