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

Key Points

• UBS Group raised its price target for U.S. Bancorp from $64 to $66 while maintaining a “neutral” rating, implying approximately 9.07% upside from the prior close.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $69.36 based on one Strong Buy, 14 Buy, and eight Hold ratings.
• U.S. Bancorp’s latest quarterly results exceeded expectations: EPS was $1.34 versus a $1.32 consensus, while revenue rose 8.7% year over year to $8.04 billion.

U.S. Bancorp (NYSE:USB - Get Free Report) had its target price increased by UBS Group from $64.00 to $66.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. UBS Group's price objective would indicate a potential upside of 9.07% from the company's previous close.

A number of other equities research analysts have also recently issued reports on USB. BTIG Research set a $67.50 price target on shares of U.S. Bancorp in a report on Monday, July 20th. Truist Financial reduced their price target on shares of U.S. Bancorp from $69.00 to $67.00 and set a "buy" rating on the stock in a research report on Thursday, October 1st. Barclays upped their price objective on shares of U.S. Bancorp from $67.00 to $75.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. Jefferies Financial Group raised shares of U.S. Bancorp from a "hold" rating to a "buy" rating and raised their price objective for the stock from $60.00 to $75.00 in a report on Monday, July 6th. Finally, Citigroup dropped their price objective on shares of U.S. Bancorp from $72.00 to $70.00 and set a "buy" rating for the company in a report on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.36.

U.S. Bancorp Price Performance

NYSE:USB traded up $1.06 during trading hours on Monday, reaching $60.51. The company had a trading volume of 5,609,936 shares, compared to its average volume of 9,116,676. The stock has a 50-day moving average of $59.88 and a two-hundred day moving average of $58.03. U.S. Bancorp has a one year low of $45.02 and a one year high of $66.07. The firm has a market capitalization of $94.28 billion, a PE ratio of 11.80, a PEG ratio of 1.13 and a beta of 1.02. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The company had revenue of $8.04 billion during the quarter, compared to analysts' expectations of $8 billion. During the same period last year, the business earned $1.22 earnings per share. The business's revenue was up 8.7% on a year-over-year basis. Analysts forecast that U.S. Bancorp will post 5.30 earnings per share for the current year.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 426,262 shares of the company's stock, valued at $26,585,960.94. This represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On U.S. Bancorp

A number of institutional investors have recently modified their holdings of USB. Archer Investment Corp bought a new position in U.S. Bancorp in the 2nd quarter worth approximately $29,000. Parvin Asset Management LLC bought a new position in U.S. Bancorp in the 2nd quarter valued at $30,000. Main Street Group LTD bought a new position in U.S. Bancorp in the 1st quarter valued at $28,000. John Boyer Inc. bought a new position in U.S. Bancorp in the 3rd quarter valued at $34,000. Finally, NFSG Corp acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at $31,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Company Profile

U.S. Bancorp NYSE: USB is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company's consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.

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