U.S. Bancorp (NYSE:USB) Price Target Raised to $62.00 at JPMorgan Chase & Co.

U.S. Bancorp (NYSE:USB) had its price objective lifted by equities research analysts at JPMorgan Chase & Co. from $55.50 to $62.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 2.57% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. UBS Group reissued a “neutral” rating and set a $60.00 target price on shares of U.S. Bancorp in a report on Wednesday, February 4th. Oppenheimer upped their price objective on U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. TD Cowen increased their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Truist Financial lifted their price objective on U.S. Bancorp from $58.00 to $61.00 and gave the company a “hold” rating in a research note on Wednesday, January 21st. Finally, HSBC restated a “buy” rating and issued a $62.00 price objective on shares of U.S. Bancorp in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.79.

U.S. Bancorp Stock Performance

Shares of NYSE:USB traded down $0.24 during trading on Monday, hitting $60.45. 4,395,407 shares of the stock traded hands, compared to its average volume of 12,192,736. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a fifty day moving average price of $54.57 and a two-hundred day moving average price of $49.91. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $60.91. The company has a market cap of $93.96 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 1.09 and a beta of 1.06.

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

Hedge Funds Weigh In On U.S. Bancorp

Institutional investors have recently modified their holdings of the business. IMG Wealth Management Inc. purchased a new position in U.S. Bancorp in the 2nd quarter valued at $25,000. Guerra Advisors Inc acquired a new position in U.S. Bancorp in the 3rd quarter valued at about $25,000. Financial Life Planners acquired a new stake in U.S. Bancorp during the third quarter worth approximately $25,000. Clayton Financial Group LLC acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth $25,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in U.S. Bancorp in the 3rd quarter worth about $26,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Company Profile

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.