U.S. Bancorp (NYSE:USB) Upgraded to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of U.S. Bancorp (NYSE:USB) from an underweight rating to a neutral rating in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage currently has $67.50 price objective on the financial services provider’s stock, up from their previous price objective of $65.00.

Several other research analysts also recently commented on the company. Truist Financial boosted their target price on U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley lifted their price objective on U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 6th. DA Davidson boosted their price objective on U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.00.

U.S. Bancorp Trading Up 0.0%

Shares of USB stock opened at $63.15 on Monday. The company has a market capitalization of $97.95 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.07 and a beta of 0.96. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $64.84. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The firm has a 50-day moving average price of $58.06 and a 200 day moving average price of $56.15.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.07. The firm had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period in the prior year, the firm earned $1.11 earnings per share. Research analysts forecast that U.S. Bancorp will post 5.18 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is 41.52%.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of USB. Brighton Jones LLC increased its position in U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after purchasing an additional 36,863 shares during the period. Empowered Funds LLC lifted its position in U.S. Bancorp by 2.1% during the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 714 shares during the period. Intech Investment Management LLC boosted its stake in shares of U.S. Bancorp by 18.9% in the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 6,252 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of U.S. Bancorp in the 2nd quarter valued at about $425,000. Finally, Nebula Research & Development LLC acquired a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $701,000. 77.60% of the stock is currently owned by institutional investors.

More U.S. Bancorp News

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Evercore upgraded U.S. Bancorp (USB) from “in-line” to “outperform” and set a $72 price target, implying meaningful upside from current levels. Read More
• Positive Sentiment: JPMorgan upgraded U.S. Bancorp (USB) from “underweight” to “neutral” and raised its target to $67.50, citing improving prospects tied to growth in fee revenue. Read More
• Positive Sentiment: Several recent articles highlighted U.S. Bancorp (USB) as a strong dividend stock, reinforcing the bank’s appeal to income-focused investors. Article
• Neutral Sentiment: Additional coverage compared USB with other finance stocks this year, but did not indicate a major new fundamental catalyst. Article

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.