U.S. Bancorp (NYSE:USB) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of U.S. Bancorp (NYSE:USB) from an underweight rating to a neutral rating in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage currently has $67.50 price target on the financial services provider’s stock, up from their prior price target of $65.00.

Several other research analysts also recently weighed in on USB. CLSA set a $67.50 target price on shares of U.S. Bancorp in a report on Monday. Raymond James Financial assumed coverage on U.S. Bancorp in a report on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 price target on the stock. Oppenheimer upped their price objective on U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. DA Davidson increased their target price on U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Finally, Stephens lifted their target price on U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average price target of $67.00.

U.S. Bancorp Price Performance

NYSE USB opened at $64.48 on Monday. 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 12 month low of $43.46 and a 12 month high of $64.84. The stock has a market cap of $100.02 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.04 and a beta of 0.96. The company’s 50 day moving average is $58.48 and its two-hundred day moving average is $56.30.

U.S. Bancorp (NYSE:USB) last posted its quarterly 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 net margin of 18.49% and a return on equity of 13.69%. During the same period in the prior year, the business posted $1.11 earnings per share. As a group, research analysts anticipate that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is 41.52%.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction 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 trade represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On U.S. Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clayton Financial Group LLC purchased a new position in U.S. Bancorp during the 4th quarter valued at approximately $25,000. Financial Life Planners purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $27,000. Main Street Group LTD purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $28,000. JPL Wealth Management LLC bought a new position in shares of U.S. Bancorp during the 3rd quarter valued at approximately $28,000. Finally, Binnacle Investments Inc grew its holdings in shares of U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 273 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

About U.S. Bancorp

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.