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

U.S. Bancorp (NYSE:USB) had its target price increased by analysts at JPMorgan Chase & Co. from $57.50 to $65.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 3.84% from the stock’s previous close.

Several other research analysts have also commented on the company. Royal Bank Of Canada raised their price objective on U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. DA Davidson reaffirmed a “buy” rating and issued a $65.00 target price on shares of U.S. Bancorp in a research report on Friday, April 17th. Oppenheimer lowered their target price on U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Morgan Stanley boosted their price target on U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Finally, Wells Fargo & Company upped their price target on U.S. Bancorp from $62.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.31.

U.S. Bancorp Price Performance

USB opened at $62.60 on Monday. U.S. Bancorp has a 52-week low of $43.46 and a 52-week high of $62.48. The company has a 50 day moving average of $56.57 and a two-hundred day moving average of $55.51. The company has a market cap of $97.10 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.07 and a beta of 0.96. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 EPS. On average, analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current year.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the company’s 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 transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This represents a 40.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Inceptionr LLC boosted its holdings in shares of U.S. Bancorp by 424.4% in the 4th quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock valued at $1,473,000 after buying an additional 22,348 shares during the period. Danske Bank A S acquired a new stake in U.S. Bancorp during the third quarter worth about $37,162,000. Nordea Investment Management AB lifted its holdings in U.S. Bancorp by 15.3% in the fourth quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider’s stock worth $144,462,000 after acquiring an additional 357,300 shares during the last quarter. Lighthouse Investment Partners LLC boosted its stake in U.S. Bancorp by 92.9% in the third quarter. Lighthouse Investment Partners LLC now owns 252,335 shares of the financial services provider’s stock valued at $12,195,000 after acquiring an additional 121,529 shares during the period. Finally, Legal & General Group Plc boosted its stake in U.S. Bancorp by 2.6% in the third quarter. Legal & General Group Plc now owns 9,238,404 shares of the financial services provider’s stock valued at $446,492,000 after acquiring an additional 238,123 shares during the period. 77.60% of the stock is currently owned by 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.