U.S. Bancorp (NYSE:USB) Price Target Lowered to $50.00 at Morgan Stanley

U.S. Bancorp (NYSE:USB) had its target price dropped by equities research analysts at Morgan Stanley from $51.00 to $50.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential upside of 29.39% from the company’s previous close.

A number of other brokerages have also recently issued reports on USB. Oppenheimer raised their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a report on Thursday, December 19th. Wolfe Research upgraded shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price target for the company in a report on Thursday, April 3rd. Bank of America dropped their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday, March 17th. Finally, Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.89.

U.S. Bancorp Price Performance

Shares of NYSE USB traded up $0.82 during mid-day trading on Thursday, reaching $38.64. 5,914,056 shares of the company were exchanged, compared to its average volume of 9,031,442. The company’s 50 day moving average price is $42.91 and its 200 day moving average price is $46.86. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $60.21 billion, a PE ratio of 10.20, a PEG ratio of 1.73 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the previous year, the company posted $0.78 EPS. Sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James L. Chosy sold 21,451 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 198,127 shares in the company, valued at $9,440,751.55. This trade represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

A number of large investors have recently added to or reduced their stakes in USB. Winch Advisory Services LLC grew its holdings in shares of 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 acquiring an additional 490 shares during the period. J.Safra Asset Management Corp purchased a new position in shares of U.S. Bancorp in the fourth quarter worth approximately $26,000. FPC Investment Advisory Inc. bought a new stake in U.S. Bancorp during the fourth quarter valued at approximately $28,000. Global Wealth Strategies & Associates increased its holdings in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after buying an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter worth $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.