U.S. Bancorp (NYSE:USB) Price Target Cut to $46.00

U.S. Bancorp (NYSE:USB) had its target price reduced by analysts at The Goldman Sachs Group from $48.00 to $46.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 4.90% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a report on Thursday, June 27th. Citigroup increased their price target on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Royal Bank of Canada lifted their price objective on U.S. Bancorp from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. UBS Group increased their target price on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Jefferies Financial Group dropped their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $48.18.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $43.85 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $68.43 billion, a P/E ratio of 14.52, a PEG ratio of 4.34 and a beta of 1.03. The firm has a fifty day moving average of $43.82 and a 200-day moving average of $42.17. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $47.31.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period last year, the company posted $1.12 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. As a group, analysts predict that U.S. Bancorp will post 3.87 EPS for the current year.

Insiders Place Their Bets

In other news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were purchased at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.

Institutional Trading of U.S. Bancorp

Several large investors have recently added to or reduced their stakes in the business. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in U.S. Bancorp during the first quarter worth approximately $30,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp in the second quarter worth approximately $30,000. Eagle Bay Advisors LLC boosted its stake in U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of U.S. Bancorp during the 1st quarter valued at $31,000. 77.60% of the stock is currently 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.