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

U.S. Bancorp (NYSE:USB) had its price target decreased by JPMorgan Chase & Co. from $62.00 to $58.00 in a research note released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the financial services provider’s stock.

A number of other analysts have also commented on the company. Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Wolfe Research lowered shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. HSBC reaffirmed a “buy” rating and issued a $62.00 price objective on shares of U.S. Bancorp in a research report on Wednesday, January 7th. Jefferies Financial Group initiated coverage on shares of U.S. Bancorp in a research report on Thursday, March 26th. They issued a “hold” rating and a $55.00 price objective on the stock. Finally, Barclays lifted their price objective on shares of U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.26.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $53.72 on Tuesday. The business’s fifty day simple moving average is $54.80 and its 200 day simple moving average is $51.96. The firm has a market capitalization of $83.38 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 0.97 and a beta of 1.01. U.S. Bancorp has a 12 month low of $35.49 and a 12 month high of $61.19. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last issued its quarterly 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. The business had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.U.S. Bancorp’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. As a group, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.52 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.9%. U.S. Bancorp’s payout ratio is presently 45.02%.

Insider Activity

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction 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 directly owned 97,728 shares in the company, valued at $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.21% of the stock is currently owned by insiders.

Institutional Trading of U.S. Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. World Investment Advisors raised its position in shares of U.S. Bancorp by 9.1% in the fourth quarter. World Investment Advisors now owns 62,129 shares of the financial services provider’s stock valued at $3,315,000 after purchasing an additional 5,171 shares during the period. Larry Mathis Financial Planning LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at $413,000. Advisortrust Partners LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at $626,000. PeakShares LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at $96,000. Finally, Corient Private Wealth LLC raised its stake in shares of U.S. Bancorp by 26.9% during the 4th quarter. Corient Private Wealth LLC now owns 513,400 shares of the financial services provider’s stock valued at $27,454,000 after purchasing an additional 108,789 shares during the period. Institutional investors 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.