HSBC Issues Positive Forecast for U.S. Bancorp (NYSE:USB) Stock Price

Key Points

• HSBC raised its U.S. Bancorp price target to $76 from $74 and maintained a “buy” rating, implying 28.86% upside from the prior close. MarketBeat’s consensus view is “Moderate Buy,” with an average target of $67.65.
• U.S. Bancorp shares fell 0.6% to $58.98, while the company’s latest quarterly results exceeded expectations: EPS was $1.35 versus a $1.28 estimate, and revenue reached $7.69 billion.
• Institutional investors own 77.60% of the stock, with several funds increasing their positions recently. Meanwhile, company insiders sold shares, including CEO Gunjan Kedia, who sold 27,267 shares.

U.S. Bancorp (NYSE:USB - Get Free Report) had its target price boosted by investment analysts at HSBC from $74.00 to $76.00 in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage presently has a "buy" rating on the financial services provider's stock. HSBC's price objective indicates a potential upside of 28.86% from the company's previous close.

USB has been the topic of several other research reports. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Monday, July 6th. BTIG Research set a $67.50 price objective on shares of U.S. Bancorp in a research note on Monday, July 20th. Citigroup reiterated a "buy" rating on shares of U.S. Bancorp in a research report on Tuesday, September 22nd. JPMorgan Chase & Co. upped their price target on shares of U.S. Bancorp from $67.50 to $69.00 and gave the company a "neutral" rating in a report on Wednesday, July 29th. Finally, Robert W. Baird raised their price objective on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.65.

U.S. Bancorp Trading Down 0.6%

NYSE USB traded down $0.35 during trading hours on Monday, hitting $58.98. 208,877 shares of the company were exchanged, compared to its average volume of 9,264,161. The stock has a 50-day moving average price of $62.70 and a 200 day moving average price of $58.44. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07. The stock has a market cap of $91.89 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.05 and a beta of 0.95.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.07. The business had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period in the prior year, the business posted $1.11 earnings per share. Analysts forecast that U.S. Bancorp will post 5.25 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Gunjan Kedia sold 27,267 shares of the firm's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the transaction, the chief executive officer directly owned 426,262 shares of the company's stock, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the sale, the insider directly owned 74,969 shares of the company's stock, valued at $4,729,044.52. This represents a 32.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. QRG Capital Management Inc. increased its position in U.S. Bancorp by 15.2% during the 2nd quarter. QRG Capital Management Inc. now owns 300,453 shares of the financial services provider's stock valued at $18,147,000 after purchasing an additional 39,591 shares during the period. Security National Bank of Sioux City Iowa IA bought a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $105,000. Keystone Financial Planning Inc. lifted its position in shares of U.S. Bancorp by 0.9% in the 2nd quarter. Keystone Financial Planning Inc. now owns 226,360 shares of the financial services provider's stock worth $13,672,000 after purchasing an additional 2,012 shares during the period. Tidal Investments LLC lifted its position in shares of U.S. Bancorp by 14.4% in the 2nd quarter. Tidal Investments LLC now owns 111,909 shares of the financial services provider's stock worth $6,759,000 after purchasing an additional 14,065 shares during the period. Finally, MCF Advisors LLC boosted its stake in shares of U.S. Bancorp by 5.8% during the second quarter. MCF Advisors LLC now owns 38,771 shares of the financial services provider's stock valued at $2,357,000 after purchasing an additional 2,121 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

About U.S. Bancorp

U.S. Bancorp NYSE: USB is a financial services holding company and the parent organization of U.S. Bank, a full-service commercial bank. The company provides deposit accounts, consumer and business loans, mortgages, credit and debit cards, payment services, and other banking products to individuals, businesses, institutions and government entities.

Through its wealth, corporate and commercial banking operations, U.S. Bancorp also offers investment management, trust and custody services, treasury management, capital markets support, equipment finance and other specialized financial solutions.

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