U.S. Bancorp (NYSE:USB) Price Target Cut to $72.00 by Analysts at Raymond James Financial

Key Points

• Raymond James cut U.S. Bancorp’s price target from $74 to $72 while maintaining a “strong-buy” rating, implying 25.46% potential upside from the stock’s $57.39 price.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $67.31; however, several firms recently lowered their targets and some maintain neutral ratings.
• U.S. Bancorp’s latest quarterly results exceeded expectations, with adjusted EPS of $1.35 versus the $1.28 consensus and revenue of $7.69 billion versus $7.58 billion expected. Institutional investors own 77.60% of the company, while recent insider transactions were sales by the CEO and another insider.

U.S. Bancorp (NYSE:USB - Get Free Report) had its target price reduced by stock analysts at Raymond James Financial from $74.00 to $72.00 in a report released on Tuesday, Benzinga reports. The firm currently has a "strong-buy" rating on the financial services provider's stock. Raymond James Financial's price target indicates a potential upside of 25.46% from the stock's current price.

A number of other equities research analysts have also recently issued reports on USB. Truist Financial cut their price objective on shares of U.S. Bancorp from $69.00 to $67.00 and set a "buy" rating for the company in a research note on Thursday, October 1st. Citigroup restated a "buy" rating on shares of U.S. Bancorp in a research note on Tuesday, September 22nd. JPMorgan Chase & Co. lowered their price target on U.S. Bancorp from $69.00 to $65.00 and set a "neutral" rating on the stock in a report on Friday. UBS Group lowered their target price on U.S. Bancorp from $66.00 to $64.00 and set a "neutral" rating for the company in a research report on Monday. Finally, CLSA set a $67.50 price objective on shares of U.S. Bancorp in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.31.

U.S. Bancorp Stock Performance

U.S. Bancorp stock traded up $0.12 during midday trading on Tuesday, reaching $57.39. 973,574 shares of the company's stock were exchanged, compared to its average volume of 9,229,324. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market cap of $89.42 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 1.05 and a beta of 1.00. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07. The stock's 50-day simple moving average is $62.00 and its 200 day simple moving average is $58.70.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same quarter in the previous year, the firm posted $1.11 EPS. On average, analysts expect that U.S. Bancorp will post 5.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other U.S. Bancorp 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 sale, the chief executive officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 value of $2,328,030.48. Following the completion of the transaction, the insider owned 74,969 shares in the company, valued at $4,729,044.52. This trade represents a 32.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company's stock.

Institutional Investors Weigh In On U.S. Bancorp

Several large investors have recently made changes to their positions in the business. Inceptionr LLC boosted its position in U.S. Bancorp by 424.4% during the fourth quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider's stock valued at $1,473,000 after acquiring an additional 22,348 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in U.S. Bancorp by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider's stock worth $539,232,000 after purchasing an additional 93,025 shares in the last quarter. Mufg Bank LTD. acquired a new position in U.S. Bancorp in the second quarter valued at approximately $2,680,199,000. SG Americas Securities LLC lifted its stake in U.S. Bancorp by 51.4% in the first quarter. SG Americas Securities LLC now owns 6,559,944 shares of the financial services provider's stock valued at $341,183,000 after buying an additional 2,227,285 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of U.S. Bancorp by 57.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 92,257 shares of the financial services provider's stock worth $4,798,000 after buying an additional 33,517 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Company Profile

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

Through U.S. Bank, its principal subsidiary, U.S. Bancorp offers checking and savings accounts, credit cards, mortgages, consumer and business loans, commercial banking, treasury management, investment services, and financial planning.

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