Truist Financial Issues Pessimistic Forecast for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its target price reduced by research analysts at Truist Financial from $51.00 to $48.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target would indicate a potential upside of 25.02% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Citigroup lowered their price objective on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Morgan Stanley dropped their target price on U.S. Bancorp from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Bank of America lowered their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Keefe, Bruyette & Woods decreased their target price on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating on the stock in a research report on Thursday. Finally, The Goldman Sachs Group lowered their target price on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.57.

U.S. Bancorp Stock Performance

Shares of NYSE USB traded up $0.57 during midday trading on Thursday, hitting $38.39. 3,846,393 shares of the stock traded hands, compared to its average volume of 9,024,134. The firm has a market capitalization of $59.82 billion, a P/E ratio of 10.10, a PEG ratio of 1.73 and a beta of 0.91. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a 50-day moving average of $42.91 and a two-hundred day moving average of $46.86. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.92 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by insiders.

Hedge Funds Weigh In On U.S. Bancorp

A number of large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in U.S. Bancorp in the 4th quarter valued at about $777,524,000. Invesco Ltd. grew its stake in shares of U.S. Bancorp by 48.1% in the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock worth $802,947,000 after purchasing an additional 5,449,949 shares in the last quarter. Franklin Resources Inc. lifted its holdings in U.S. Bancorp by 153.0% in the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after purchasing an additional 4,807,662 shares during the period. Marshall Wace LLP raised its position in shares of U.S. Bancorp by 414.1% during the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock worth $276,915,000 after buying an additional 4,663,518 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $184,733,000. Institutional investors own 77.60% of the company’s stock.

About U.S. Bancorp

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.