JPMorgan Chase & Co. Forecasts Strong Price Appreciation for U.S. Bancorp (NYSE:USB) Stock

U.S. Bancorp (NYSE:USB) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $65.00 to $65.50 in a report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 10.14% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. Truist Financial decreased their price target on shares of U.S. Bancorp from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. TD Cowen started coverage on U.S. Bancorp in a report on Thursday, October 8th. They issued a “buy” rating and a $70.00 price target on the stock. Jefferies Financial Group raised U.S. Bancorp from a “hold” rating to a “buy” rating and raised their price objective for the company from $60.00 to $75.00 in a research note on Monday, July 6th. UBS Group reduced their price objective on U.S. Bancorp from $66.00 to $64.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Finally, Morgan Stanley set a $68.00 price objective on U.S. Bancorp in a report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.21.

U.S. Bancorp Trading Down 1.9%

U.S. Bancorp stock traded down $1.17 during mid-day trading on Friday, hitting $59.47. 7,351,763 shares of the stock were exchanged, compared to its average volume of 9,133,465. The stock has a market capitalization of $92.66 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.14 and a beta of 1.00. 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 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87. The firm’s fifty day simple moving average is $59.88 and its two-hundred day simple moving average is $58.03.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.32 by $0.02. The company had revenue of $8.04 billion for the quarter, compared to analyst estimates of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.22 EPS. Analysts forecast that U.S. Bancorp will post 5.29 EPS for the current year.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the sale, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.21% of the company’s stock.

Institutional Trading of U.S. Bancorp

A number of hedge funds have recently made changes to their positions in USB. Compass Financial Management LLC raised its position in U.S. Bancorp by 24.9% in the 3rd quarter. Compass Financial Management LLC now owns 2,002 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 399 shares during the period. Provenance Wealth Advisors LLC lifted its stake in U.S. Bancorp by 180.4% in the third quarter. Provenance Wealth Advisors LLC now owns 2,414 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 1,553 shares during the period. Associated Banc Corp bought a new stake in shares of U.S. Bancorp during the 3rd quarter valued at about $6,860,000. Integrity Alliance LLC. grew its holdings in shares of U.S. Bancorp by 4.1% during the 3rd quarter. Integrity Alliance LLC. now owns 37,462 shares of the financial services provider’s stock worth $2,164,000 after acquiring an additional 1,473 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its holdings in U.S. Bancorp by 0.4% in the third quarter. Oregon Public Employees Retirement Fund now owns 191,482 shares of the financial services provider’s stock worth $11,060,000 after purchasing an additional 670 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 financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.