Morgan Stanley Issues Pessimistic Forecast for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its target price decreased by equities researchers at Morgan Stanley from $55.00 to $51.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 40.46% from the company’s current price.

USB has been the topic of several other reports. The Goldman Sachs Group dropped their price objective on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Wells Fargo & Company decreased 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. JPMorgan Chase & Co. restated an “underweight” rating and issued a $43.50 target price (down previously from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Truist Financial decreased their target price on shares of U.S. Bancorp from $54.00 to $51.00 and set a “hold” rating for the company in a research note on Friday, April 4th. Finally, Bank of America dropped their price target on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.52.

U.S. Bancorp Stock Down 1.3 %

NYSE:USB opened at $36.31 on Monday. The firm has a 50-day simple moving average of $44.19 and a two-hundred day simple moving average of $47.23. The firm has a market cap of $56.57 billion, a P/E ratio of 9.58, a P/E/G ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two 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.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same period in the previous year, the business earned $0.99 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the sale, the executive vice president now directly owns 198,127 shares in the company, valued at approximately $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the transaction, the insider now owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This represents a 23.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,812 shares of company stock valued at $10,385,665. Corporate insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in U.S. Bancorp during the fourth quarter valued at $777,524,000. Invesco Ltd. increased its holdings in shares of U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock worth $802,947,000 after buying an additional 5,449,949 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of U.S. Bancorp by 153.0% in the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after acquiring an additional 4,807,662 shares during the last quarter. Marshall Wace LLP grew its position in U.S. Bancorp by 414.1% in the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock worth $276,915,000 after acquiring an additional 4,663,518 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in U.S. Bancorp during the fourth quarter worth approximately $184,733,000. 77.60% of the stock is currently 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.