U.S. Bancorp (NYSE:USB) Rating Lowered to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of U.S. Bancorp (NYSE:USB) from an overweight rating to a neutral rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has $43.50 target price on the financial services provider’s stock.

Several other brokerages also recently weighed in on USB. StockNews.com upgraded U.S. Bancorp from a sell rating to a hold rating in a report on Friday, June 14th. Oppenheimer cut their price target on U.S. Bancorp from $55.00 to $54.00 and set an outperform rating on the stock in a report on Thursday, April 18th. Royal Bank of Canada restated an outperform rating and set a $47.00 price target on shares of U.S. Bancorp in a report on Thursday, May 16th. Wells Fargo & Company cut their price target on U.S. Bancorp from $50.00 to $48.00 and set an overweight rating on the stock in a report on Thursday, April 18th. Finally, HSBC upgraded U.S. Bancorp from a hold rating to a buy rating and upped their price target for the stock from $47.00 to $53.00 in a report on Thursday, March 28th. Sixteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $46.02.

U.S. Bancorp Price Performance

USB opened at $39.70 on Thursday. The stock’s 50-day moving average price is $40.35 and its 200 day moving average price is $41.70. U.S. Bancorp has a 12-month low of $30.47 and a 12-month 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 firm has a market cap of $61.95 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 3.82 and a beta of 1.04.

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

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a yield of 4.94%. U.S. Bancorp’s payout ratio is 64.90%.

Institutional Trading of U.S. Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Scotia Capital Inc. lifted its position in U.S. Bancorp by 2.9% during the 3rd quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock worth $1,158,000 after acquiring an additional 990 shares during the period. Focus Financial Network Inc. ADV acquired a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $5,440,000. Spinnaker Trust acquired a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $220,000. Morningstar Investment Management LLC lifted its holdings in shares of U.S. Bancorp by 760.8% in the 4th quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock valued at $3,628,000 after buying an additional 74,094 shares during the period. Finally, Tealwood Asset Management Inc. lifted its holdings in shares of U.S. Bancorp by 33.4% in the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after buying an additional 15,665 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

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.