U.S. Bancorp (NYSE:USB) Price Target Raised to $62.00 at JPMorgan Chase & Co.

U.S. Bancorp (NYSE:USB) had its price target raised by JPMorgan Chase & Co. from $55.50 to $62.00 in a research report released on Monday,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

A number of other analysts also recently commented on USB. TD Cowen boosted their price objective on shares of U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. UBS Group reiterated a “neutral” rating and set a $60.00 price target on shares of U.S. Bancorp in a research report on Wednesday, February 4th. Truist Financial upped their price target on U.S. Bancorp from $58.00 to $61.00 and gave the stock a “hold” rating in a report on Wednesday, January 21st. Wells Fargo & Company lifted their price objective on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Finally, Keefe, Bruyette & Woods upped their target price on U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.79.

U.S. Bancorp Stock Down 0.4%

USB opened at $60.42 on Monday. 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 12 month low of $35.18 and a 12 month high of $60.91. The stock has a market capitalization of $93.92 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.09 and a beta of 1.06. The business has a 50 day simple moving average of $54.79 and a 200-day simple moving average of $50.01.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. The firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations 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 revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.07 earnings per share. On average, equities analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.4%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 45.02%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the transaction, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

A number of institutional investors have recently modified their holdings of USB. Huntington National Bank grew its stake in U.S. Bancorp by 3.2% in the 4th quarter. Huntington National Bank now owns 998,581 shares of the financial services provider’s stock worth $53,284,000 after acquiring an additional 31,174 shares during the period. Smith Chas P & Associates PA Cpas purchased a new position in shares of U.S. Bancorp during the 4th quarter worth $606,000. Eaton Financial Holdings Company LLC boosted its holdings in shares of U.S. Bancorp by 3.3% during the fourth quarter. Eaton Financial Holdings Company LLC now owns 27,335 shares of the financial services provider’s stock worth $1,459,000 after purchasing an additional 868 shares during the last quarter. Community Bank & Trust Waco Texas grew its position in shares of U.S. Bancorp by 3.8% in the fourth quarter. Community Bank & Trust Waco Texas now owns 6,514 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 236 shares during the period. Finally, Geode Capital Management LLC increased its stake in U.S. Bancorp by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock valued at $2,002,518,000 after purchasing an additional 443,646 shares during the last quarter. Institutional investors and hedge funds 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.