U.S. Bancorp (NYSE:USB) Price Target Cut to $56.00 by Analysts at Barclays

U.S. Bancorp (NYSE:USB) had its target price cut by stock analysts at Barclays from $61.00 to $56.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective points to a potential upside of 45.86% from the stock’s previous close.

A number of other research firms have also commented on USB. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research report on Monday, January 13th. Morgan Stanley decreased their target price on U.S. Bancorp from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Oppenheimer increased 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. Finally, The Goldman Sachs Group dropped their price target on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.34.

U.S. Bancorp Stock Up 1.5 %

Shares of NYSE:USB traded up $0.57 during midday trading on Thursday, reaching $38.39. 4,443,527 shares of the company were exchanged, compared to its average volume of 9,026,034. The firm has a market cap of $59.82 billion, a PE ratio of 10.14, a P/E/G ratio of 1.73 and a beta of 0.91. The stock has a fifty day simple moving average of $42.91 and a two-hundred day simple moving average of $46.86. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.97 by $0.06. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same period in the previous year, the business earned $0.78 earnings per share. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. This trade represents a 9.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 99,790 shares in the company, valued at $4,749,006.10. This represents a 23.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 over the last 90 days. 0.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On U.S. Bancorp

Several institutional investors have recently bought and sold shares of USB. Winch Advisory Services LLC lifted its stake in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 490 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $26,000. FPC Investment Advisory Inc. purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $28,000. Global Wealth Strategies & Associates increased its position in shares of U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth approximately $30,000. Hedge funds and other 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.