U.S. Bancorp’s (USB) Strong-Buy Rating Reiterated at Raymond James Financial

U.S. Bancorp (NYSE:USB)‘s stock had its “strong-buy” rating reiterated by equities researchers at Raymond James Financial in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $72.00 price objective on the financial services provider’s stock. Raymond James Financial’s target price would indicate a potential upside of 14.47% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Truist Financial upped their price target on U.S. Bancorp from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Oppenheimer reduced their price objective on U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Tuesday, June 30th. Barclays boosted their target price on U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Finally, Wells Fargo & Company raised their price target on U.S. Bancorp from $62.00 to $66.00 and gave the company an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus target price of $64.31.

U.S. Bancorp Stock Up 0.1%

NYSE:USB opened at $62.90 on Wednesday. The firm’s 50-day moving average price is $56.84 and its 200-day moving average price is $55.64. The company has a market capitalization of $97.57 billion, a PE ratio of 13.19, a P/E/G ratio of 1.09 and a beta of 0.96. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 1-year low of $43.46 and a 1-year high of $63.39.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The company had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same period last year, the company posted $1.03 EPS. U.S. Bancorp’s revenue was up 4.7% on a year-over-year basis. On average, equities analysts predict that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the transaction, the insider owned 207,251 shares in the company, valued at $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction 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 sale, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Clayton Financial Group LLC purchased a new stake in U.S. Bancorp in the fourth quarter worth approximately $25,000. Financial Life Planners purchased a new stake in U.S. Bancorp during the 3rd quarter valued at $25,000. Main Street Group LTD bought a new position in shares of U.S. Bancorp during the 1st quarter valued at $28,000. Rossby Financial LCC boosted its stake in shares of U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after buying an additional 212 shares during the last quarter. Finally, NFSG Corp purchased a new position in shares of U.S. Bancorp in the 1st quarter worth $31,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

More U.S. Bancorp News

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Jefferies upgraded U.S. Bancorp (USB) to Buy and lifted its price target to $75, signaling meaningful upside potential. U.S. Bancorp (NYSE:USB) Upgraded to “Buy” at Jefferies Financial Group
• Positive Sentiment: Wells Fargo raised its price target on U.S. Bancorp (USB) to $66 and maintained an Overweight rating, reinforcing a constructive outlook. U.S. Bancorp (NYSE:USB) Price Target Raised to $66.00 at Wells Fargo & Company
• Positive Sentiment: UBS also increased its target on U.S. Bancorp (USB) to $66, suggesting analysts see room for additional gains even though the rating remained neutral. UBS Group Forecasts Strong Price Appreciation for U.S. Bancorp (NYSE:USB) Stock
• Positive Sentiment: U.S. Bank launched Enhanced Payments, a tool aimed at helping small businesses move money faster and lower costs, which could support payments growth and deepen client relationships. U.S. Bank Debuts Tool for Faster Small Business Money Movement
• Positive Sentiment: Elavon, U.S. Bank’s payments unit, announced a partnership with Wix to expand unified commerce solutions for small businesses, which may help broaden payments volume and merchant adoption. Wix and Elavon Launch Unified Commerce Solutions to Help Small Businesses Start, Grow and Scale

About U.S. Bancorp

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.