U.S. Bancorp (NYSE:USB – Get Rating) had its price target lowered by investment analysts at Wells Fargo & Company from $70.00 to $60.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 30.38% from the company’s previous close.
USB has been the topic of several other reports. Royal Bank of Canada reduced their price objective on U.S. Bancorp from $66.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday. Bank of America increased their target price on U.S. Bancorp from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, April 18th. Oppenheimer increased their target price on U.S. Bancorp from $67.00 to $72.00 in a report on Tuesday, May 3rd. Morgan Stanley dropped their target price on U.S. Bancorp from $70.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, March 28th. Finally, Wolfe Research dropped their price objective on U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $62.14.
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NYSE:USB opened at $46.02 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.75. U.S. Bancorp has a 52-week low of $44.79 and a 52-week high of $63.57. The firm has a market cap of $68.37 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 1.65 and a beta of 0.98. The business’s fifty day moving average is $49.19 and its 200 day moving average is $54.01.
U.S. Bancorp (NYSE:USB – Get Rating) last announced its earnings results on Thursday, April 14th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.55 billion. U.S. Bancorp had a return on equity of 15.24% and a net margin of 30.41%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.45 EPS. Equities analysts predict that U.S. Bancorp will post 4.43 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of USB. Delos Wealth Advisors LLC bought a new stake in U.S. Bancorp during the fourth quarter worth approximately $29,000. Advocacy Wealth Management Services LLC boosted its position in shares of U.S. Bancorp by 72.3% during the first quarter. Advocacy Wealth Management Services LLC now owns 572 shares of the financial services provider’s stock valued at $30,000 after buying an additional 240 shares during the period. Westside Investment Management Inc. boosted its position in shares of U.S. Bancorp by 45.6% during the first quarter. Westside Investment Management Inc. now owns 648 shares of the financial services provider’s stock valued at $34,000 after buying an additional 203 shares during the period. Atticus Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $36,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $36,000. 74.92% of the stock is currently owned by institutional investors.
About U.S. Bancorp (Get Rating)
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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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