U.S. Bancorp (NYSE:USB) Price Target Cut to $49.00 by Analysts at Bank of America

U.S. Bancorp (NYSE:USB) had its target price lowered by investment analysts at Bank of America from $50.00 to $49.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price objective would indicate a potential upside of 16.03% from the stock’s previous close.

USB has been the subject of several other reports. Oppenheimer lifted their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research note on Thursday, December 19th. Compass Point lifted their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley lowered their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Truist Financial started coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.98.

U.S. Bancorp Stock Up 0.1 %

USB stock opened at $42.23 on Monday. The stock has a market capitalization of $65.80 billion, a P/E ratio of 11.14, a PEG ratio of 1.73 and a beta of 1.02. 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 has a one year low of $37.81 and a one year high of $53.98. The company has a 50 day moving average price of $46.63 and a two-hundred day moving average price of $47.73.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. U.S. Bancorp’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 EPS. As a group, sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction 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 in the company, valued at $4,749,006.10. The trade was a 23.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the transaction, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. This represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On U.S. Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Natixis Advisors LLC lifted its holdings in U.S. Bancorp by 16.6% in the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after buying an additional 56,990 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $1,018,000. M&T Bank Corp raised its stake in shares of U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after purchasing an additional 22,803 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of U.S. Bancorp by 11.3% in the 4th quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock valued at $18,212,000 after purchasing an additional 38,802 shares in the last quarter. Finally, Keystone Financial Planning Inc. raised its stake in shares of U.S. Bancorp by 29.5% in the 4th quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock valued at $3,473,000 after purchasing an additional 16,552 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

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.