JPMorgan Chase & Co. Cuts U.S. Bancorp (NYSE:USB) Price Target to $65.00

U.S. Bancorp (NYSE:USB) had its target price decreased by JPMorgan Chase & Co. from $69.00 to $65.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 12.83% from the stock’s previous close.

Other equities analysts have also issued reports about the company. UBS Group raised their price target on U.S. Bancorp from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 6th. Robert W. Baird raised their target price on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Morgan Stanley lifted their target price on shares of U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Finally, BTIG Research set a $67.50 price target on shares of U.S. Bancorp in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.40.

U.S. Bancorp Trading Up 0.4%

NYSE:USB traded up $0.25 during trading hours on Friday, reaching $57.61. The company’s stock had a trading volume of 2,731,618 shares, compared to its average volume of 9,263,927. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market capitalization of $89.75 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 1.06 and a beta of 1.00. The firm has a 50-day simple moving average of $62.25 and a 200-day simple moving average of $58.62. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data 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. The firm had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period last year, the firm earned $1.11 earnings per share. Research analysts expect that U.S. Bancorp will post 5.25 EPS for the current fiscal year.

Insider Buying and Selling

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the business’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the transaction, the insider directly owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. The trade was a 32.99% 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. Also, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the transaction, the chief executive officer owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On U.S. Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of USB. State Street Corp grew its holdings in shares of U.S. Bancorp by 0.8% during the 4th quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock worth $3,755,083,000 after acquiring an additional 522,368 shares during the period. Mufg Bank LTD. bought a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $2,680,199,000. Auto Owners Insurance Co boosted its position in shares of U.S. Bancorp by 5,236.0% during the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after purchasing an additional 32,725,000 shares in the last quarter. Bank of America Corp DE grew its stake in U.S. Bancorp by 6.9% in the first quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock worth $822,800,000 after purchasing an additional 1,022,898 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in U.S. Bancorp by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after purchasing an additional 93,025 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. The company provides banking, lending, payment, investment, and wealth management services to individuals, businesses, government entities, and institutional clients.

Through U.S. Bank, its principal subsidiary, U.S. Bancorp offers checking and savings accounts, credit cards, mortgages, consumer and business loans, commercial banking, treasury management, investment services, and financial planning.