JPMorgan Chase & Co. Trims U.S. Bancorp (NYSE:USB) Target Price to $43.50

U.S. Bancorp (NYSE:USB) had its price target dropped by research analysts at JPMorgan Chase & Co. from $45.00 to $43.50 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 6.18% from the stock’s current price.

Other analysts have also recently issued reports about the company. Wells Fargo & Company lowered their price target on U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Jefferies Financial Group increased their target price on shares of U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Evercore ISI boosted their price target on shares of U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Morgan Stanley raised their price objective on shares of U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $45.00 target price (down from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.02.

U.S. Bancorp Trading Down 0.2 %

Shares of USB stock opened at $40.97 on Wednesday. The firm has a fifty day moving average of $42.32 and a 200-day moving average of $40.35. The stock has a market cap of $63.84 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 2.11 and a beta of 1.05. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $45.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter last year, the company earned $1.16 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities research analysts forecast that U.S. Bancorp will post 3.85 earnings per share for the current fiscal year.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Several institutional investors have recently modified their holdings of USB. CGC Financial Services LLC bought a new position in U.S. Bancorp during the 4th quarter worth approximately $25,000. BKM Wealth Management LLC bought a new position in shares of U.S. Bancorp during the fourth quarter worth $26,000. Planned Solutions Inc. acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at $27,000. Legacy Financial Group LLC bought a new stake in shares of U.S. Bancorp in the 3rd quarter valued at $30,000. Finally, Naples Money Management LLC acquired a new stake in U.S. Bancorp during the 4th quarter worth $30,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.