U.S. Bancorp (NYSE:USB) Raised to “Neutral” at JPMorgan Chase & Co.

U.S. Bancorp (NYSE:USB) was upgraded by research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a $67.50 price objective on the financial services provider’s stock, up from their prior price objective of $65.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 6.91% from the company’s current price.

Other research analysts have also issued research reports about the company. Oppenheimer lifted their price target on U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays upped their price objective on U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday. Truist Financial raised their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company lifted their target price on U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Stephens boosted their target price on U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average target price of $66.71.

U.S. Bancorp Trading Down 0.0%

USB stock opened at $63.14 on Monday. The firm has a fifty day moving average price of $57.89 and a 200 day moving average price of $56.09. U.S. Bancorp has a fifty-two week low of $43.46 and a fifty-two week high of $64.84. The firm has a market cap of $97.93 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The company had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the prior year, the firm earned $1.11 earnings per share. Sell-side analysts anticipate that U.S. Bancorp will post 5.18 earnings per share for the current fiscal year.

Insider Activity at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the business’s 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 transaction, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. The trade was a 16.18% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by insiders.

Institutional Trading of U.S. Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Clayton Financial Group LLC purchased a new position in U.S. Bancorp in the 4th quarter worth about $25,000. Financial Life Planners bought a new position in U.S. Bancorp in the 1st quarter worth about $27,000. Main Street Group LTD bought a new position in U.S. Bancorp in the 1st quarter worth about $28,000. JPL Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the third quarter worth approximately $28,000. Finally, Binnacle Investments Inc increased its position in shares of U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 273 shares during the period. 77.60% of the stock is currently owned by institutional investors.

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.