JPMorgan Chase & Co. Cuts U.S. Bancorp (NYSE:USB) Price Target to $65.00

U.S. Bancorp (NYSE:USB) had its price objective lowered by JPMorgan Chase & Co. from $69.00 to $65.00 in a research report sent to investors on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

USB has been the subject of a number of other reports. DA Davidson upped their target price on U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Oppenheimer lifted their price target on shares of U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 6th. Robert W. Baird increased their price objective on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. Finally, Evercore raised shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and an average price target of $67.40.

U.S. Bancorp Trading Down 0.0%

Shares of USB opened at $57.51 on Friday. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $89.60 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 1.05 and a beta of 1.00. The stock’s 50-day moving average price is $62.13 and its 200 day moving average price is $58.66.

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

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.54 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, September 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.8%. U.S. Bancorp’s dividend payout ratio is 43.11%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the company’s stock in a transaction on Monday, July 20th. The stock was 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 represents a 32.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the transaction, the chief executive officer 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 disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

Institutional Investors Weigh In On U.S. Bancorp

Large investors have recently made changes to their positions in the company. Inceptionr LLC increased its stake in shares of U.S. Bancorp by 424.4% in the fourth quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock valued at $1,473,000 after buying an additional 22,348 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in 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 worth $539,232,000 after buying an additional 93,025 shares in the last quarter. Mufg Bank LTD. acquired a new position in U.S. Bancorp during the 2nd quarter worth about $2,680,199,000. SG Americas Securities LLC lifted its position in U.S. Bancorp by 51.4% during the 1st quarter. SG Americas Securities LLC now owns 6,559,944 shares of the financial services provider’s stock worth $341,183,000 after buying an additional 2,227,285 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its holdings in U.S. Bancorp by 57.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 92,257 shares of the financial services provider’s stock worth $4,798,000 after acquiring an additional 33,517 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

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.