DA Davidson Lowers U.S. Bancorp (NYSE:USB) Price Target to $44.00

U.S. Bancorp (NYSE:USB) had its price objective cut by analysts at DA Davidson from $45.00 to $44.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price objective points to a potential upside of 8.78% from the stock’s previous close. DA Davidson also issued estimates for U.S. Bancorp’s Q2 2024 earnings at $0.95 EPS and FY2024 earnings at $3.88 EPS.

Several other brokerages have also issued reports on USB. Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. UBS Group boosted their target price on shares of U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. TheStreet upgraded shares of U.S. Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Evercore ISI boosted their target price on shares of U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Finally, Morgan Stanley boosted their target price on shares of U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.68.

U.S. Bancorp Stock Up 2.6 %

NYSE:USB opened at $40.45 on Thursday. The firm has a market cap of $63.03 billion, a P/E ratio of 13.39, a P/E/G ratio of 2.04 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $45.85. The firm has a 50-day simple moving average of $42.32 and a two-hundred day simple moving average of $39.78.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period in the previous year, the business posted $1.16 earnings per share. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. Analysts predict that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the transaction, the insider now owns 144,236 shares in the company, valued at $6,255,515.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of USB. CGC Financial Services LLC bought a new position in shares of U.S. Bancorp in the fourth quarter worth about $25,000. BKM Wealth Management LLC bought a new position in shares of U.S. Bancorp in the fourth quarter worth about $26,000. Planned Solutions Inc. bought a new position in shares of U.S. Bancorp in the fourth quarter worth about $27,000. Legacy Financial Group LLC bought a new position in shares of U.S. Bancorp in the third quarter worth about $30,000. Finally, Naples Money Management LLC bought a new position in shares of U.S. Bancorp in the fourth quarter worth about $30,000. 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.