U.S. Bancorp (NYSE:USB – Get Rating) had its price target boosted by investment analysts at Oppenheimer from $70.00 to $74.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price target points to a potential upside of 50.56% from the company’s current price.
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Several other research analysts have also commented on USB. Credit Suisse Group raised their price target on shares of U.S. Bancorp from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday. Citigroup lifted their price target on shares of U.S. Bancorp to $50.00 in a research note on Friday, December 2nd. Piper Sandler lowered their target price on shares of U.S. Bancorp to $45.00 in a research note on Thursday, September 29th. Morgan Stanley lowered their price target on shares of U.S. Bancorp from $57.00 to $55.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 6th. Finally, StockNews.com lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven 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 price target of $54.00.
U.S. Bancorp Stock Performance
NYSE:USB opened at $49.15 on Thursday. The stock has a market cap of $73.03 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.45 and a beta of 0.96. U.S. Bancorp has a fifty-two week low of $38.39 and a fifty-two week high of $60.50. The firm’s fifty day simple moving average is $44.63 and its 200-day simple moving average is $44.72. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.78.
U.S. Bancorp (NYSE:USB – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.09. U.S. Bancorp had a net margin of 26.01% and a return on equity of 15.25%. The company had revenue of $6.37 billion for the quarter, compared to analysts’ expectations of $6.61 billion. During the same period last year, the company earned $1.07 EPS. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. Analysts expect that U.S. Bancorp will post 4.35 earnings per share for the current fiscal year.
Insider Activity
In other news, CEO Andrew Cecere sold 84,948 shares of the stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $43.51, for a total value of $3,696,087.48. Following the completion of the sale, the chief executive officer now directly owns 956,742 shares of the company’s stock, valued at $41,627,844.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Andrew Cecere sold 84,948 shares of the firm’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $43.51, for a total value of $3,696,087.48. Following the completion of the transaction, the chief executive officer now directly owns 956,742 shares of the company’s stock, valued at $41,627,844.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Terrance R. Dolan sold 12,000 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $43.14, for a total value of $517,680.00. Following the completion of the transaction, the chief financial officer now directly owns 153,051 shares of the company’s stock, valued at $6,602,620.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 139,249 shares of company stock valued at $6,064,745. 0.23% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of USB. Allworth Financial LP lifted its holdings in U.S. Bancorp by 142.8% during the 3rd quarter. Allworth Financial LP now owns 18,239 shares of the financial services provider’s stock valued at $735,000 after purchasing an additional 10,728 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of U.S. Bancorp by 177.5% in the 2nd quarter. Hexagon Capital Partners LLC now owns 974 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 623 shares in the last quarter. Sei Investments Co. grew its position in U.S. Bancorp by 35.1% during the 2nd quarter. Sei Investments Co. now owns 844,932 shares of the financial services provider’s stock worth $38,876,000 after acquiring an additional 219,584 shares during the last quarter. DT Investment Partners LLC grew its position in U.S. Bancorp by 2.7% during the 2nd quarter. DT Investment Partners LLC now owns 18,914 shares of the financial services provider’s stock worth $870,000 after acquiring an additional 491 shares during the last quarter. Finally, Wimmer Associates 1 LLC raised its position in U.S. Bancorp by 8.2% in the 2nd quarter. Wimmer Associates 1 LLC now owns 10,413 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 785 shares during the last quarter. 71.83% of the stock is owned by institutional investors.
About U.S. Bancorp
U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.
Further Reading
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