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

U.S. Bancorp (NYSE:USB) had its price target raised by JPMorgan Chase & Co. from $57.50 to $65.00 in a report released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the financial services provider’s stock.

A number of other research firms also recently commented on USB. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday. Truist Financial lifted their price objective on shares of U.S. Bancorp from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Barclays increased their target price on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Morgan Stanley lifted their price target on shares of 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, Jefferies Financial Group upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $60.00 to $75.00 in a research note on Monday. Fifteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $63.92.

U.S. Bancorp Stock Up 0.6%

USB traded up $0.41 on Monday, reaching $63.24. The company’s stock had a trading volume of 417,977 shares, compared to its average volume of 10,124,008. The stock has a market cap of $98.09 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50 day moving average is $56.57 and its 200 day moving average is $55.51. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $63.39.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion during 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 quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 earnings per share. As a group, research analysts forecast that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. U.S. Bancorp’s payout ratio is 43.61%.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $2,847,731.84. This represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Clayton Financial Group LLC purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth approximately $25,000. Financial Life Planners purchased a new stake in shares of U.S. Bancorp in the third quarter valued at about $25,000. Main Street Group LTD purchased a new position in U.S. Bancorp during the first quarter worth about $28,000. Rossby Financial LCC boosted its holdings in U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 212 shares in the last quarter. Finally, NFSG Corp purchased a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $31,000. Institutional investors own 77.60% of the company’s stock.

More U.S. Bancorp News

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Jefferies upgraded U.S. Bancorp (USB) to Buy and raised its price target to $75, reflecting confidence in improving earnings leverage and fee-based growth. Article Title
• Positive Sentiment: Wells Fargo increased its price target on USB to $66 and reiterated an Overweight rating, signaling continued optimism on the stock. Article Title
• Positive Sentiment: U.S. Bank subsidiary Elavon announced a partnership with Wix to launch unified commerce solutions for small businesses, which could support payments growth and expand business activity for USB. Article Title
• Neutral Sentiment: JPMorgan raised its target on USB to $65 but kept an Underweight rating, reflecting mixed sentiment rather than a clear bullish turn. Article Title
• Neutral Sentiment: Seeking Alpha published a bullish earnings outlook piece on U.S. Bancorp, suggesting investors are focusing on potential Q2 strength, though it does not appear to be a fresh company announcement. Article Title
• Negative Sentiment: No major negative company-specific developments were reported in the latest articles, but JPMorgan’s Underweight stance shows not all analysts are fully bullish on USB.

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.