U.S. Bancorp’s (USB) “Underweight” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their underweight rating on shares of U.S. Bancorp (NYSE:USB) in a report released on Thursday, Marketbeat Ratings reports. They currently have a $43.50 price target on the financial services provider’s stock, down from their prior price target of $51.00.

A number of other research analysts have also recently issued reports on USB. Wells Fargo & Company reduced their price objective on shares of U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research report on Monday, January 13th. Morgan Stanley cut their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Truist Financial started coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective for the company. Finally, Barclays boosted their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.89.

U.S. Bancorp Price Performance

Shares of USB opened at $36.78 on Thursday. The firm has a market cap of $57.30 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a 52-week low of $35.74 and a 52-week high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The business’s 50 day moving average price is $44.92 and its two-hundred day moving average price is $47.43.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.44%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Insider Activity at U.S. Bancorp

In other news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the transaction, the insider now owns 99,790 shares in the company, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock valued at $10,385,665 in the last three months. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of USB. Winch Advisory Services LLC increased its position in shares of U.S. Bancorp by 1,088.9% during the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 490 shares during the last quarter. J.Safra Asset Management Corp purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at $26,000. FPC Investment Advisory Inc. purchased a new stake in U.S. Bancorp in the fourth quarter worth about $28,000. Global Wealth Strategies & Associates lifted its holdings in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after buying an additional 250 shares during the period. Finally, Stonebridge Financial Group LLC bought a new stake in U.S. Bancorp during the fourth quarter valued at about $30,000. 77.60% of the stock is currently owned by institutional investors.

About U.S. Bancorp

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.