U.S. Bancorp (NYSE:USB) Price Target Lowered to $58.00 at JPMorgan Chase & Co.

U.S. Bancorp (NYSE:USB) had its target price decreased by JPMorgan Chase & Co. from $62.00 to $58.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 8.60% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Royal Bank Of Canada lifted their target price on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Jefferies Financial Group began coverage on U.S. Bancorp in a research report on Thursday, March 26th. They issued a “hold” rating and a $55.00 price target on the stock. Truist Financial upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $61.00 to $66.00 in a research report on Thursday, February 26th. Morgan Stanley dropped their price target on U.S. Bancorp from $72.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Finally, Evercore boosted their price target on U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.26.

U.S. Bancorp Stock Performance

Shares of USB traded down $0.04 during midday trading on Tuesday, reaching $53.41. 2,570,931 shares of the stock were exchanged, compared to its average volume of 11,066,181. The business’s 50-day moving average price is $54.86 and its 200 day moving average price is $51.94. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. U.S. Bancorp has a twelve month low of $35.49 and a twelve month high of $61.19. The company has a market capitalization of $82.90 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 0.97 and a beta of 1.01.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, topping 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 business had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction that occurred 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 sale, the insider owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

A number of institutional investors have recently added to or reduced their stakes in the business. Chemung Canal Trust Co. boosted its stake in shares of U.S. Bancorp by 205.5% during the 3rd quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock worth $3,302,000 after acquiring an additional 45,963 shares in the last quarter. Citigroup Inc. boosted its stake in shares of U.S. Bancorp by 2.4% during the 3rd quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock worth $84,568,000 after acquiring an additional 41,803 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of U.S. Bancorp by 15.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock worth $17,738,000 after acquiring an additional 47,537 shares in the last quarter. Synergy Asset Management LLC lifted its stake in U.S. Bancorp by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock valued at $5,428,000 after buying an additional 59,981 shares in the last quarter. Finally, SteelPeak Wealth LLC lifted its stake in U.S. Bancorp by 757.8% in the 3rd quarter. SteelPeak Wealth LLC now owns 176,500 shares of the financial services provider’s stock valued at $8,622,000 after buying an additional 155,925 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

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.