U.S. Bancorp (NYSE:USB) Earns “Underweight” Rating from JPMorgan Chase & Co.

U.S. Bancorp (NYSE:USB)‘s stock had its “underweight” rating reissued by equities researchers at JPMorgan Chase & Co. in a research report issued to clients and investors on Thursday, Marketbeat reports. They presently have a $43.50 price objective on the financial services provider’s stock, down from their previous price objective of $51.00. JPMorgan Chase & Co.‘s price target suggests a potential upside of 18.27% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Barclays boosted their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley decreased their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Wells Fargo & Company decreased their price target on U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Finally, Truist Financial initiated coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.89.

U.S. Bancorp Trading Down 5.2 %

Shares of U.S. Bancorp stock opened at $36.78 on Thursday. U.S. Bancorp has a 52-week low of $35.74 and a 52-week high of $53.98. The firm has a market capitalization of $57.30 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The company’s fifty day moving average price is $44.92 and its two-hundred day moving average price is $47.41.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. On average, analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the transaction, the insider now owns 99,790 shares of the company’s stock, valued at $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On U.S. Bancorp

Several hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in U.S. Bancorp during the 4th quarter worth $777,524,000. Invesco Ltd. raised its position in shares of U.S. Bancorp by 48.1% during the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock worth $802,947,000 after purchasing an additional 5,449,949 shares during the period. Franklin Resources Inc. lifted its holdings in shares of U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after purchasing an additional 4,807,662 shares in the last quarter. Marshall Wace LLP grew its position in shares of U.S. Bancorp by 414.1% in the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock valued at $276,915,000 after purchasing an additional 4,663,518 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in U.S. Bancorp during the 4th quarter worth approximately $184,733,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

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.