JPMorgan Chase & Co. Lowers U.S. Bancorp (NYSE:USB) Price Target to $57.50

Key Points

• JPMorgan Chase cut its price target on U.S. Bancorp to $57.50 (from $58) and maintained an underweight rating, implying only about a 1.3% upside from the current stock price.
• Analyst sentiment overall remains constructive: MarketBeat shows an average rating of Moderate Buy with an average price target of $61.20, and multiple firms (e.g., Argus, TD Cowen, HSBC) have recently set or raised buy targets.
• Fundamentals: U.S. Bancorp beat quarterly EPS estimates ($1.18 vs. $1.14) on $7.32B in revenue, trades around $56.76 with a P/E of ~11.9, but has seen recent insider sales and carries high institutional ownership (~77.6%).

U.S. Bancorp (NYSE:USB - Get Free Report) had its price target cut by equities researchers at JPMorgan Chase & Co. from $58.00 to $57.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "underweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 1.31% from the stock's current price.

Several other equities research analysts have also weighed in on the company. Argus raised their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, January 22nd. TD Cowen raised their target price on U.S. Bancorp from $65.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, January 21st. Wolfe Research lowered U.S. Bancorp from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 7th. Morgan Stanley set a $64.00 target price on U.S. Bancorp in a research report on Friday, April 17th. Finally, HSBC reissued a "buy" rating and set a $62.00 target price on shares of U.S. Bancorp in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $61.20.

U.S. Bancorp Stock Up 1.0%

USB stock traded up $0.59 during mid-day trading on Thursday, reaching $56.76. The company had a trading volume of 10,918,633 shares, compared to its average volume of 10,765,871. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $88.10 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 1.01 and a beta of 1.01. The firm has a fifty day simple moving average of $54.12 and a 200 day simple moving average of $52.84. U.S. Bancorp has a fifty-two week low of $39.99 and a fifty-two week high of $61.19.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The company had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 18.26% and a net margin of 18.01%.U.S. Bancorp's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. Analysts forecast that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction that occurred on 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 completion of the sale, the insider owned 97,728 shares in the company, valued at approximately $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company's stock.

Institutional Trading of U.S. Bancorp

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of U.S. Bancorp by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider's stock valued at $7,810,665,000 after buying an additional 1,828,404 shares in the last quarter. State Street Corp boosted its stake in shares of U.S. Bancorp by 0.8% in the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider's stock valued at $3,755,083,000 after buying an additional 522,368 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 443,646 shares in the last quarter. Norges Bank purchased a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $1,887,497,000. Finally, Auto Owners Insurance Co boosted its stake in shares of U.S. Bancorp by 5,236.0% in the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider's stock valued at $1,779,556,000 after buying an additional 32,725,000 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

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.

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