U.S. Bancorp (NYSE:USB) Upgraded by JPMorgan Chase & Co. to Neutral Rating

U.S. Bancorp (NYSE:USB) was upgraded by research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a $67.50 price target on the financial services provider’s stock, up from their previous price target of $65.00. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 6.91% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. CLSA set a $67.50 price objective on shares of U.S. Bancorp in a report on Monday. Wells Fargo & Company lifted their target price on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday. 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. Morgan Stanley increased their price target on U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Finally, Truist Financial lifted their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $66.71.

U.S. Bancorp Trading Down 0.0%

Shares of NYSE:USB opened at $63.14 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $64.84. The company has a market cap of $97.93 billion, a P/E ratio of 12.60, a PEG ratio of 1.07 and a beta of 0.96. The stock’s fifty day moving average price is $57.89 and its 200-day moving average price is $56.09.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. The business had revenue of $7.71 billion during the quarter, compared to analyst estimates 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 firm earned $1.11 EPS. Sell-side analysts expect that U.S. Bancorp will post 5.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were 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 owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. This 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 Trading of U.S. Bancorp

Several institutional investors have recently made changes to their positions in the business. Clayton Financial Group LLC purchased a new stake in U.S. Bancorp during the 4th quarter valued at approximately $25,000. Financial Life Planners purchased a new position in shares of U.S. Bancorp in the first quarter worth $27,000. Main Street Group LTD bought a new position in shares of U.S. Bancorp during the first quarter worth $28,000. JPL Wealth Management LLC bought a new position in shares of U.S. Bancorp during the third quarter worth $28,000. Finally, Binnacle Investments Inc grew its stake in U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 273 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

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.