U.S. Bancorp (NYSE:USB) Downgraded to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of U.S. Bancorp (NYSE:USB) from an overweight rating to a neutral rating in a research note released on Thursday morning, MarketBeat.com reports. They currently have $43.50 target price on the financial services provider’s stock.

A number of other research firms also recently issued reports on USB. Wells Fargo & Company lowered their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an overweight rating on the stock in a report on Thursday, April 18th. DA Davidson reduced their price objective on shares of U.S. Bancorp from $45.00 to $44.00 and set a neutral rating for the company in a research note on Thursday, April 18th. Evercore ISI lifted their target price on U.S. Bancorp from $45.00 to $48.00 and gave the company an in-line rating in a research report on Tuesday. Compass Point raised U.S. Bancorp from a neutral rating to a buy rating and increased their price target for the company from $46.00 to $49.00 in a research report on Friday, March 22nd. Finally, Morgan Stanley restated an equal weight rating and issued a $45.00 price target on shares of U.S. Bancorp in a research note on Friday, June 21st. Sixteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $46.02.

U.S. Bancorp Trading Down 0.1 %

Shares of NYSE:USB opened at $39.68 on Thursday. The firm has a market cap of $61.92 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 3.85 and a beta of 1.04. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $45.85. The company’s fifty day simple moving average is $40.36 and its 200 day simple moving average is $41.71. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. The firm had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. As a group, research analysts forecast that U.S. Bancorp will post 3.84 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Friday, June 28th. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in USB. Norges Bank bought a new position in shares of U.S. Bancorp in the 4th quarter valued at $827,370,000. Aristotle Capital Management LLC raised its position in U.S. Bancorp by 266.6% in the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock valued at $775,842,000 after purchasing an additional 17,066,479 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of U.S. Bancorp by 5.0% during the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock valued at $4,513,127,000 after purchasing an additional 6,479,642 shares in the last quarter. Boston Partners bought a new stake in shares of U.S. Bancorp during the fourth quarter worth about $154,517,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of U.S. Bancorp by 8.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock valued at $1,459,363,000 after buying an additional 2,598,163 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.