U.S. Bancorp (NYSE:USB) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $60.00 to $64.50 in a research note issued on Monday, The Fly reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 6.44% from the stock’s previous close.
Other research analysts have also issued reports about the company. Stephens lifted their price objective on U.S. Bancorp from $52.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 30th. Bank of America raised U.S. Bancorp from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $58.00 to $62.00 in a research report on Monday, April 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on U.S. Bancorp from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 1st. Citigroup lifted their price objective on U.S. Bancorp from $63.00 to $65.00 in a research report on Wednesday, April 21st. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $55.00 target price on shares of U.S. Bancorp in a research report on Thursday, March 25th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $57.59.
Shares of USB opened at $60.60 on Monday. The company has a market capitalization of $91.06 billion, a PE ratio of 20.07, a PEG ratio of 2.26 and a beta of 1.09. U.S. Bancorp has a 12 month low of $28.36 and a 12 month high of $60.65. The stock’s 50-day moving average price is $56.60 and its two-hundred day moving average price is $48.52. The company has a current ratio of 0.82, a quick ratio of 0.80 and a debt-to-equity ratio of 0.90.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 14th. The financial services provider reported $1.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.49. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.53 billion. U.S. Bancorp had a return on equity of 10.99% and a net margin of 18.68%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 EPS. Equities research analysts predict that U.S. Bancorp will post 3.06 EPS for the current fiscal year.
In related news, CEO Andrew Cecere sold 184,187 shares of the company’s stock in a transaction that occurred on Thursday, April 22nd. The stock was sold at an average price of $56.48, for a total value of $10,402,881.76. Following the transaction, the chief executive officer now owns 1,037,110 shares in the company, valued at $58,575,972.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gunjan Kedia sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 21st. The shares were sold at an average price of $56.94, for a total value of $1,138,800.00. Following the completion of the transaction, the insider now owns 84,526 shares in the company, valued at approximately $4,812,910.44. The disclosure for this sale can be found here. Insiders sold a total of 251,779 shares of company stock worth $14,319,060 in the last 90 days. Company insiders own 0.23% of the company’s stock.
A number of institutional investors have recently bought and sold shares of USB. Norges Bank purchased a new position in U.S. Bancorp in the fourth quarter valued at approximately $673,915,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in U.S. Bancorp by 1,964.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,862,914 shares of the financial services provider’s stock valued at $86,793,000 after purchasing an additional 1,772,656 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in U.S. Bancorp by 102.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,075,830 shares of the financial services provider’s stock valued at $170,124,000 after acquiring an additional 1,552,902 shares during the period. Coho Partners Ltd. raised its holdings in U.S. Bancorp by 36.5% during the 4th quarter. Coho Partners Ltd. now owns 5,273,903 shares of the financial services provider’s stock valued at $245,711,000 after acquiring an additional 1,410,994 shares during the period. Finally, Brandywine Global Investment Management LLC raised its holdings in U.S. Bancorp by 518.8% during the 4th quarter. Brandywine Global Investment Management LLC now owns 1,617,721 shares of the financial services provider’s stock valued at $75,370,000 after acquiring an additional 1,356,292 shares during the period. Institutional investors and hedge funds own 71.73% of the company’s stock.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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