JPMorgan Chase & Co. Lowers U.S. Bancorp (NYSE:USB) Price Target to $43.50

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

A number of other equities research analysts have also commented on USB. UBS Group dropped their price target on U.S. Bancorp from $47.00 to $43.00 and set a neutral rating on the stock in a research report on Friday, April 19th. Evercore ISI raised their target price on shares of U.S. Bancorp from $46.00 to $48.00 and gave the stock an in-line rating in a report on Thursday, March 28th. Compass Point upgraded shares of U.S. Bancorp from a neutral rating to a buy rating and upped their price target for the company from $46.00 to $49.00 in a report on Friday, March 22nd. Wells Fargo & Company lowered their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an overweight rating for the company in a research report on Thursday, April 18th. Finally, Oppenheimer cut their price objective on shares of U.S. Bancorp from $55.00 to $54.00 and set an outperform rating on the stock in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $46.02.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $41.41 on Wednesday. The business has a 50-day moving average price of $42.32 and a two-hundred day moving average price of $40.41. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $45.85. The stock has a market capitalization of $64.62 billion, a P/E ratio of 13.71, a P/E/G ratio of 2.14 and a beta of 1.05. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. The firm had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Equities analysts predict that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.73%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Insider Activity 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 shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is owned by company insiders.

Institutional Trading of U.S. Bancorp

Several hedge funds have recently added to or reduced their stakes in the company. CGC Financial Services LLC acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth $25,000. BKM Wealth Management LLC bought a new position in U.S. Bancorp during the fourth quarter worth about $26,000. Planned Solutions Inc. acquired a new stake in U.S. Bancorp in the 4th quarter worth about $27,000. Legacy Financial Group LLC bought a new stake in U.S. Bancorp in the 3rd quarter valued at about $30,000. Finally, Naples Money Management LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $30,000. 77.60% of the stock is owned by institutional investors and hedge funds.

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.