JPMorgan Chase & Co. Reaffirms “Underweight” Rating for U.S. Bancorp (NYSE:USB)

U.S. Bancorp (NYSE:USB)‘s stock had its “underweight” rating reaffirmed by analysts at JPMorgan Chase & Co. in a report issued on Thursday,Benzinga reports. They currently have a $43.50 price target on the financial services provider’s stock, down from their prior price target of $51.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 1.05% from the company’s current price.

Several other equities research analysts have also commented on the stock. Citigroup cut their price target on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a report on Monday, March 24th. The Goldman Sachs Group cut their target price on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research note on Monday, January 13th. Wells Fargo & Company cut their price objective on U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Finally, Bank of America decreased their target price on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and an average target price of $53.21.

U.S. Bancorp Trading Up 3.1 %

Shares of U.S. Bancorp stock opened at $43.05 on Thursday. The firm has a 50-day simple moving average of $45.36 and a two-hundred day simple moving average of $47.52. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a market cap of $67.07 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. As a group, equities analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the sale, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On U.S. Bancorp

Institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $777,524,000. Invesco Ltd. boosted its position in U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock valued at $802,947,000 after buying an additional 5,449,949 shares during the period. Franklin Resources Inc. boosted its position in U.S. Bancorp by 153.0% in the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after buying an additional 4,807,662 shares during the period. Marshall Wace LLP grew its stake in shares of U.S. Bancorp by 414.1% in the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock worth $276,915,000 after acquiring an additional 4,663,518 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth $184,733,000. 77.60% of the stock is 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.