Wells Fargo & Company Forecasts Strong Price Appreciation for U.S. Bancorp (NYSE:USB) Stock

U.S. Bancorp (NYSE:USB) had its price objective boosted by analysts at Wells Fargo & Company from $62.00 to $66.00 in a report issued on Monday, Marketbeat Ratings reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 7.01% from the company’s current price.

A number of other equities research analysts have also weighed in on USB. 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 report on Thursday, April 30th. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Monday. DA Davidson reissued a “buy” rating and issued a $65.00 price target on shares of U.S. Bancorp in a research note on Friday, April 17th. Jefferies Financial Group restated a “hold” rating and set a $60.00 price target on shares of U.S. Bancorp in a research report on Thursday, April 16th. Finally, Stephens assumed coverage on U.S. Bancorp in a research note on Monday, June 15th. They set an “equal weight” rating and a $63.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $62.95.

U.S. Bancorp Trading Down 0.1%

Shares of USB stock opened at $61.67 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $56.57 and a two-hundred day moving average price of $55.51. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $62.38. The firm has a market cap of $95.67 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 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 analyst estimates of $7.27 billion. During the same period in the prior year, the company earned $1.03 EPS. The company’s revenue was up 4.7% on a year-over-year basis. Equities analysts anticipate that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

Insider Activity at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in USB. Versant Capital Management Inc raised its stake in U.S. Bancorp by 6.0% in the second quarter. Versant Capital Management Inc now owns 6,560 shares of the financial services provider’s stock worth $396,000 after buying an additional 371 shares in the last quarter. WealthPoint Financial LLC boosted its position in U.S. Bancorp by 13.2% during the 1st quarter. WealthPoint Financial LLC now owns 4,795 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 561 shares in the last quarter. Ballast Advisors LLC bought a new stake in U.S. Bancorp during the 1st quarter valued at approximately $111,000. FAS Wealth Partners Inc. grew its holdings in shares of U.S. Bancorp by 0.9% during the 1st quarter. FAS Wealth Partners Inc. now owns 19,964 shares of the financial services provider’s stock worth $1,038,000 after acquiring an additional 186 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of U.S. Bancorp by 5.4% in the 1st quarter. Parallel Advisors LLC now owns 20,499 shares of the financial services provider’s stock worth $1,066,000 after acquiring an additional 1,046 shares in 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.