JPMorgan Chase & Co. Issues Pessimistic Forecast for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $69.00 to $65.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 12.83% from the stock’s previous close.

USB has been the subject of a number of other research reports. Keefe, Bruyette & Woods raised their price objective on U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. HSBC increased their target price on U.S. Bancorp from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday. DA Davidson raised their price target on U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a report on Friday, July 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of U.S. Bancorp in a research report on Friday, July 31st. Finally, Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $67.40.

U.S. Bancorp Stock Up 0.4%

USB traded up $0.25 during midday trading on Friday, reaching $57.61. The company’s stock had a trading volume of 2,731,618 shares, compared to its average volume of 9,263,927. The firm has a market capitalization of $89.75 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 1.06 and a beta of 1.00. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07. The stock’s 50-day moving average is $62.25 and its 200-day moving average is $58.62.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period last year, the business earned $1.11 earnings per share. As a group, research analysts expect that U.S. Bancorp will post 5.25 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the transaction, the chief executive officer directly owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the sale, the insider directly owned 74,969 shares in the company, valued at $4,729,044.52. This trade represents a 32.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its position in U.S. Bancorp by 0.8% during the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock valued at $3,755,083,000 after purchasing an additional 522,368 shares during the period. Mufg Bank LTD. bought a new stake in U.S. Bancorp in the 2nd quarter worth approximately $2,680,199,000. Auto Owners Insurance Co raised its stake in U.S. Bancorp by 5,236.0% during the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after buying an additional 32,725,000 shares during the last quarter. Bank of America Corp DE raised its stake in U.S. Bancorp by 6.9% during the 1st quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock valued at $822,800,000 after buying an additional 1,022,898 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of U.S. Bancorp by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after buying an additional 93,025 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

About U.S. Bancorp

U.S. Bancorp is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. The company provides banking, lending, payment, investment, and wealth management services to individuals, businesses, government entities, and institutional clients.

Through U.S. Bank, its principal subsidiary, U.S. Bancorp offers checking and savings accounts, credit cards, mortgages, consumer and business loans, commercial banking, treasury management, investment services, and financial planning.