U.S. Bancorp (NYSE:USB) Price Target Raised to $66.00

U.S. Bancorp (NYSE:USB) had its price target raised by investment analysts at Truist Financial from $62.00 to $66.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 8.53% from the stock’s current price.

A number of other research firms also recently commented on USB. Barclays lifted their price objective on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Jefferies Financial Group restated a “hold” rating and issued a $60.00 price target on shares of U.S. Bancorp in a research report on Thursday, April 16th. JPMorgan Chase & Co. lowered their price objective on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a research report on Thursday, April 30th. Stephens initiated coverage on shares of U.S. Bancorp in a report on Monday, June 15th. They issued an “equal weight” rating and a $63.00 target price on the stock. Finally, DA Davidson restated a “buy” rating and issued a $65.00 target price on shares of U.S. Bancorp in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.48.

U.S. Bancorp Stock Down 0.6%

Shares of USB stock traded down $0.40 during trading hours on Friday, hitting $60.81. 3,221,606 shares of the company were exchanged, compared to its average volume of 10,188,521. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a one year low of $43.46 and a one year high of $61.88. The business’s 50-day simple moving average is $56.00 and its two-hundred day simple moving average is $55.15. The stock has a market capitalization of $94.33 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 1.04 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.27 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. U.S. Bancorp’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts predict that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

Insider Transactions at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On U.S. Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of USB. Paulson Wealth Management Inc. grew its stake in shares of U.S. Bancorp by 2.0% in the 4th quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 173 shares during the last quarter. Gilbert & Cook Inc. lifted its stake in U.S. Bancorp by 1.2% during the fourth quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 184 shares during the last quarter. Flputnam Investment Management Co. boosted its holdings in U.S. Bancorp by 1.4% during the fourth quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock worth $732,000 after buying an additional 186 shares in the last quarter. Formidable Asset Management LLC boosted its holdings in U.S. Bancorp by 0.8% during the first quarter. Formidable Asset Management LLC now owns 23,373 shares of the financial services provider’s stock worth $1,247,000 after buying an additional 186 shares in the last quarter. Finally, FAS Wealth Partners Inc. grew its position in U.S. Bancorp by 0.9% in the first quarter. FAS Wealth Partners Inc. now owns 19,964 shares of the financial services provider’s stock worth $1,038,000 after buying an additional 186 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.