U.S. Bancorp (NYSE:USB) Given New $43.50 Price Target at JPMorgan Chase & Co.

U.S. Bancorp (NYSE:USB) had its target price lowered by JPMorgan Chase & Co. from $45.00 to $43.50 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts also recently issued reports on USB. Royal Bank of Canada lifted their price objective on U.S. Bancorp from $43.00 to $47.00 and gave the company an outperform rating in a research report on Thursday, January 18th. Jefferies Financial Group increased their price objective on shares of U.S. Bancorp from $44.00 to $46.00 and gave the stock a hold rating in a report on Monday, April 8th. Compass Point raised shares of U.S. Bancorp from a neutral rating to a buy rating and boosted their target price for the stock from $46.00 to $49.00 in a research note on Friday, March 22nd. Keefe, Bruyette & Woods reissued a market perform rating and set a $45.00 price target (down from $52.00) on shares of U.S. Bancorp in a research note on Thursday, April 18th. Finally, Evercore ISI raised their price target on U.S. Bancorp from $46.00 to $48.00 and gave the company an in-line rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, U.S. Bancorp presently has an average rating of Hold and an average target price of $46.02.

U.S. Bancorp Trading Up 1.1 %

USB stock opened at $41.42 on Wednesday. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The business’s 50 day moving average is $42.32 and its 200-day moving average is $40.35. The firm has a market cap of $64.53 billion, a P/E ratio of 13.71, a P/E/G ratio of 2.13 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the previous year, the business earned $1.16 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. Equities analysts anticipate that U.S. Bancorp will post 3.85 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.73%. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

Insider Transactions at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mufg Bank LTD. boosted its stake in shares of U.S. Bancorp by 54.1% during the 3rd quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock worth $2,260,450,000 after acquiring an additional 24,000,000 shares during the period. Norges Bank acquired a new stake in U.S. Bancorp in the 4th quarter worth about $827,370,000. Aristotle Capital Management LLC grew its position in U.S. Bancorp by 266.6% during the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock worth $775,842,000 after buying an additional 17,066,479 shares in the last quarter. Vanguard Group Inc. raised its stake in U.S. Bancorp by 5.0% in the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock valued at $4,513,127,000 after purchasing an additional 6,479,642 shares in the last quarter. Finally, Barclays PLC raised its position in shares of U.S. Bancorp by 120.4% in the 3rd quarter. Barclays PLC now owns 8,810,834 shares of the financial services provider’s stock valued at $291,285,000 after buying an additional 4,813,976 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.