Bank of America Has Lowered Expectations for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its target price dropped by research analysts at Bank of America from $50.00 to $49.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price target indicates a potential upside of 16.50% from the company’s current price.

USB has been the subject of several other research reports. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Monday, January 13th. Morgan Stanley dropped their target price on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research note on Thursday, December 19th. Finally, Oppenheimer upped their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.98.

U.S. Bancorp Trading Up 2.8 %

Shares of NYSE USB opened at $42.06 on Monday. The firm has a 50 day moving average price of $46.90 and a two-hundred day moving average price of $47.80. The stock has a market cap of $65.53 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 52-week low of $37.81 and a 52-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 posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. As a group, equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the transaction, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,812 shares of company stock valued at $10,385,665. Corporate insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

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

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.