U.S. Bancorp (NYSE:USB) Price Target Lowered to $58.00 at JPMorgan Chase & Co.

U.S. Bancorp (NYSE:USB) had its target price dropped by JPMorgan Chase & Co. from $62.00 to $58.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 8.60% from the stock’s current price.

Several other research analysts also recently commented on the company. Piper Sandler reaffirmed a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. TD Cowen raised their price target on U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Morgan Stanley cut their price target on U.S. Bancorp from $72.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Wolfe Research cut U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Finally, Argus boosted their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.26.

U.S. Bancorp Stock Down 0.1%

USB stock traded down $0.04 during midday trading on Tuesday, hitting $53.41. The stock had a trading volume of 2,570,931 shares, compared to its average volume of 11,066,181. U.S. Bancorp has a 52-week low of $35.49 and a 52-week high of $61.19. The firm has a market cap of $82.90 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 0.97 and a beta of 1.01. The business has a 50-day moving average of $54.86 and a two-hundred day moving average of $51.94. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last released its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The firm had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.07 earnings per share. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the transaction, the insider owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the company. Paulson Wealth Management Inc. boosted its holdings in U.S. Bancorp by 2.0% in the fourth quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock valued at $469,000 after purchasing an additional 173 shares during the period. Gilbert & Cook Inc. lifted its holdings in U.S. Bancorp by 1.2% during the 4th quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider’s stock worth $832,000 after buying an additional 184 shares during the last quarter. Flputnam Investment Management Co. lifted its holdings in U.S. Bancorp by 1.4% during the 4th quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock worth $732,000 after buying an additional 186 shares during the last quarter. Genesis Private Wealth LLC lifted its holdings in U.S. Bancorp by 2.3% during the 4th quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider’s stock worth $445,000 after buying an additional 187 shares during the last quarter. Finally, Richmond Investment Services LLC lifted its holdings in U.S. Bancorp by 1.9% during the 4th quarter. Richmond Investment Services LLC now owns 10,107 shares of the financial services provider’s stock worth $539,000 after buying an additional 192 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

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.