U.S. Bancorp (NYSE:USB) Price Target Raised to $62.00 at JPMorgan Chase & Co.

U.S. Bancorp (NYSE:USB) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $55.50 to $62.00 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 points to a potential upside of 2.57% from the company’s current price.

USB has been the subject of several other research reports. Evercore lifted their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday. Citigroup raised their price target on U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Morgan Stanley reaffirmed a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. TD Cowen increased their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Finally, Argus boosted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.79.

U.S. Bancorp Trading Down 0.4%

USB traded down $0.24 during trading on Monday, reaching $60.45. The company had a trading volume of 4,395,407 shares, compared to its average volume of 12,192,736. The stock has a market cap of $93.96 billion, a P/E ratio of 13.08, a PEG ratio of 1.09 and a beta of 1.06. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $60.91. The business has a 50 day simple moving average of $54.57 and a 200-day simple moving average of $49.91. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The company had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same quarter in the previous year, the business earned $1.07 EPS. U.S. Bancorp’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Institutional Investors Weigh In On U.S. Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Cary Street Partners Financial LLC raised its position in U.S. Bancorp by 7.6% during the 4th quarter. Cary Street Partners Financial LLC now owns 61,943 shares of the financial services provider’s stock worth $3,305,000 after buying an additional 4,388 shares during the last quarter. Pioneer Trust Bank N A OR raised its holdings in shares of U.S. Bancorp by 3.0% during the fourth quarter. Pioneer Trust Bank N A OR now owns 23,046 shares of the financial services provider’s stock worth $1,230,000 after purchasing an additional 680 shares during the last quarter. Allied Investment Advisors LLC lifted its position in U.S. Bancorp by 3.3% during the fourth quarter. Allied Investment Advisors LLC now owns 268,159 shares of the financial services provider’s stock valued at $14,309,000 after purchasing an additional 8,598 shares during the period. Allstate Corp boosted its holdings in U.S. Bancorp by 110.2% in the fourth quarter. Allstate Corp now owns 116,709 shares of the financial services provider’s stock valued at $6,228,000 after purchasing an additional 61,193 shares during the last quarter. Finally, Summitry LLC grew its position in U.S. Bancorp by 6.3% during the 4th quarter. Summitry LLC now owns 149,419 shares of the financial services provider’s stock worth $7,973,000 after purchasing an additional 8,839 shares during the period. Institutional investors and hedge funds 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.