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 $67.50 to $69.00 while maintaining a “neutral” rating, implying roughly 9.14% upside from the reported share price.
• Analyst sentiment is broadly positive, with MarketBeat reporting a consensus “Moderate Buy” rating and an average target price of $67.06; RBC and Jefferies also recently raised their targets and ratings.
• U.S. Bancorp beat quarterly expectations, reporting EPS of $1.35 versus the $1.28 consensus and revenue of $7.71 billion versus $7.58 billion expected, although shares fell 1.9% to $63.22 during Wednesday trading.

U.S. Bancorp (NYSE:USB - Get Free Report) had its target price increased by stock analysts at JPMorgan Chase & Co. from $67.50 to $69.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 9.14% from the company's current price.

Several other brokerages have also commented on USB. Royal Bank Of Canada increased their price target on shares of U.S. Bancorp from $61.00 to $68.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Jefferies Financial Group upgraded shares of U.S. Bancorp from a "hold" rating to a "buy" rating and upped their price objective for the stock from $60.00 to $75.00 in a report on Monday, July 6th. Weiss Ratings raised shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. UBS Group raised their target price on U.S. Bancorp from $58.00 to $66.00 and gave the company a "neutral" rating in a report on Tuesday, July 7th. Finally, CLSA set a $67.50 price target on U.S. Bancorp in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.06.

U.S. Bancorp Stock Down 1.9%

Shares of USB traded down $1.21 during midday trading on Wednesday, reaching $63.22. 3,668,838 shares of the stock were exchanged, compared to its average volume of 9,946,484. The company has a market cap of $98.06 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 1.04 and a beta of 0.96. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $64.84. The firm has a 50 day simple moving average of $59.32 and a 200-day simple moving average of $56.55.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.28 by $0.07. The business had revenue of $7.71 billion during the quarter, compared to analysts' expectations of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same quarter in the previous year, the business posted $1.11 EPS. Research analysts forecast that U.S. Bancorp will post 5.22 EPS for the current year.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the firm's stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the sale, the insider owned 74,969 shares of the company's stock, valued at $4,729,044.52. This trade represents a 32.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On U.S. Bancorp

Large investors have recently bought and sold shares of the stock. Clayton Financial Group LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at about $25,000. Financial Life Planners acquired a new position in U.S. Bancorp in the 1st quarter valued at approximately $27,000. Main Street Group LTD acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $28,000. JPL Wealth Management LLC bought a new stake in shares of U.S. Bancorp during the third quarter valued at approximately $28,000. Finally, Binnacle Investments Inc lifted its position in U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider's stock worth $30,000 after purchasing an additional 273 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

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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