U.S. Bancorp (NYSE:USB) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised U.S. Bancorp’s price target from $65.00 to $65.50 while maintaining a “neutral” rating, implying approximately 10.14% upside from the prior close.
• Analyst sentiment is broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $69.21; targets from other firms range as high as $76.
• U.S. Bancorp shares fell 1.9% to $59.47, despite the company recently exceeding quarterly EPS estimates and reporting 8.7% year-over-year revenue growth.

U.S. Bancorp (NYSE:USB - Get Free Report) had its price target upped by equities researchers at JPMorgan Chase & Co. from $65.00 to $65.50 in a report released on Friday, Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 10.14% from the company's previous close.

A number of other brokerages also recently weighed in on USB. Keefe, Bruyette & Woods boosted their price target on U.S. Bancorp from $63.00 to $66.00 and gave the company a "market perform" rating in a report on Friday, July 17th. Stephens boosted their target price on shares of U.S. Bancorp from $63.00 to $67.00 and gave the company an "equal weight" rating in a research note on Friday, July 17th. TD Cowen assumed coverage on shares of U.S. Bancorp in a report on Thursday, October 8th. They set a "buy" rating and a $70.00 target price on the stock. Jefferies Financial Group upgraded shares of U.S. Bancorp from a "hold" rating to a "buy" rating and raised their price target for the stock from $60.00 to $75.00 in a research report on Monday, July 6th. Finally, HSBC raised their price target on shares of U.S. Bancorp from $74.00 to $76.00 and gave the stock a "buy" rating in a research report on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $69.21.

U.S. Bancorp Stock Down 1.9%

Shares of NYSE:USB traded down $1.17 during midday trading on Friday, hitting $59.47. 7,351,763 shares of the company's stock traded hands, compared to its average volume of 9,133,465. The firm's fifty day moving average price is $59.88 and its two-hundred day moving average price is $58.03. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.83. U.S. Bancorp has a twelve month low of $45.02 and a twelve month high of $66.07. The company has a market cap of $92.66 billion, a PE ratio of 11.59, a P/E/G ratio of 1.14 and a beta of 1.00.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.02. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The business had revenue of $8.04 billion for the quarter, compared to analysts' expectations of $8 billion. During the same period in the previous year, the company posted $1.22 earnings per share. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that U.S. Bancorp will post 5.29 EPS for the current fiscal year.

Insider Activity

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of USB. Dogwood Wealth Management LLC raised its stake in U.S. Bancorp by 32.9% during the second quarter. Dogwood Wealth Management LLC now owns 687 shares of the financial services provider's stock worth $41,000 after acquiring an additional 170 shares in the last quarter. Blalock Williams LLC boosted its stake in shares of U.S. Bancorp by 3.8% during the second quarter. Blalock Williams LLC now owns 4,680 shares of the financial services provider's stock valued at $283,000 after purchasing an additional 171 shares in the last quarter. Virtue Capital Management LLC grew its holdings in shares of U.S. Bancorp by 2.4% during the third quarter. Virtue Capital Management LLC now owns 7,517 shares of the financial services provider's stock worth $434,000 after purchasing an additional 177 shares during the last quarter. FAS Wealth Partners Inc. grew its holdings in shares of U.S. Bancorp by 0.9% during the first quarter. FAS Wealth Partners Inc. now owns 19,964 shares of the financial services provider's stock worth $1,038,000 after purchasing an additional 186 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its stake in shares of U.S. Bancorp by 19.7% in the first quarter. Cornerstone Planning Group LLC now owns 1,175 shares of the financial services provider's stock valued at $65,000 after buying an additional 193 shares during the period. Institutional investors and hedge funds own 77.60% of the company's stock.

About U.S. Bancorp

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

The company's consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.

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