U.S. Bancorp (NYSE:USB) Price Target Raised to $58.00

by · The Cerbat Gem

U.S. Bancorp (NYSE:USB – Get Free Report) had its price target hoisted by equities research analysts at Keefe, Bruyette & Woods from $53.00 to $58.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 7.96% from the company’s current price.

Several other research analysts have also weighed in on the company. The Goldman Sachs Group set a $52.00 target price on U.S. Bancorp and gave the stock a “neutral” rating in a report on Friday, October 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Citigroup boosted their price objective on U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Bank of America raised their target price on shares of U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.63.

Check Out Our Latest Stock Analysis on USB

U.S. Bancorp Trading Up 0.5%

Shares of NYSE:USB traded up $0.26 during mid-day trading on Wednesday, reaching $53.73. The stock had a trading volume of 4,101,029 shares, compared to its average volume of 10,072,080. The firm has a 50 day simple moving average of $48.29 and a two-hundred day simple moving average of $47.21. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $54.04. The firm has a market cap of $83.51 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.02 and a beta of 1.10. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB – Get Free Report) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.11 by $0.11. The firm had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 earnings per share. On average, research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the sale, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the sale, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. The trade was a 9.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On U.S. Bancorp

Several large investors have recently made changes to their positions in USB. Andra AP fonden grew its position in shares of U.S. Bancorp by 175.6% during the 2nd quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock worth $20,743,000 after purchasing an additional 292,100 shares in the last quarter. Ally Financial Inc. boosted its stake in shares of U.S. Bancorp by 12.3% in the first quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock valued at $3,842,000 after buying an additional 10,000 shares during the period. Jump Financial LLC grew its position in U.S. Bancorp by 1,952.5% during the first quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock worth $35,478,000 after buying an additional 799,368 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new position in U.S. Bancorp during the 1st quarter worth $428,000. Finally, Orion Capital Management LLC acquired a new position in U.S. Bancorp in the 1st quarter valued at $616,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

About U.S. Bancorp

(Get Free Report)

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.

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