U.S. Bancorp (NYSE:USB) Coverage Initiated by Analysts at Wolfe Research

Key Points

• Wolfe Research initiated coverage of U.S. Bancorp with a “peer perform” rating. Across analysts, the stock carries a “Moderate Buy” consensus and a $69.19 average price target.
• U.S. Bancorp’s latest quarterly results modestly exceeded expectations, with EPS of $1.34 versus $1.32 expected and revenue of $8.04 billion, up 8.7% year over year.
• The stock opened at $59.70 and has traded between $45.02 and $66.07 over the past year. Institutional investors own 77.60% of shares, while CEO Gunjan Kedia recently sold 27,267 shares.

Equities researchers at Wolfe Research began coverage on shares of U.S. Bancorp (NYSE:USB - Get Free Report) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set a "peer perform" rating on the financial services provider's stock.

A number of other analysts have also recently weighed in on the stock. TD Cowen assumed coverage on shares of U.S. Bancorp in a research note on Thursday, October 8th. They set a "buy" rating and a $70.00 target price on the stock. Citigroup lowered their price objective on U.S. Bancorp from $72.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, October 16th. Truist Financial decreased their target price on 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. Jefferies Financial Group raised U.S. Bancorp from a "hold" rating to a "buy" rating and raised their target price for the stock from $60.00 to $75.00 in a research note on Monday, July 6th. Finally, Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $69.19.

U.S. Bancorp Stock Performance

NYSE:USB opened at $59.70 on Tuesday. The stock has a fifty day moving average price of $60.29 and a 200-day moving average price of $57.91. The company has a market cap of $93.01 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.14 and a beta of 1.00. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.83. U.S. Bancorp has a fifty-two week low of $45.02 and a fifty-two week high of $66.07.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $0.02. The firm had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The company's revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.22 EPS. As a group, equities analysts anticipate that U.S. Bancorp will post 5.29 EPS for the current fiscal year.

Insider Activity

In other news, CEO Gunjan Kedia sold 27,267 shares of the company's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. This represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company's stock.

Institutional Investors Weigh In On U.S. Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in shares of U.S. Bancorp by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider's stock valued at $539,232,000 after acquiring an additional 93,025 shares during the last quarter. Mufg Bank LTD. purchased a new stake in shares of U.S. Bancorp in the 2nd quarter worth approximately $2,680,199,000. Illinois Municipal Retirement Fund boosted its stake in 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 valued at $4,798,000 after purchasing an additional 33,517 shares during the last quarter. Cardinal Capital Management Inc. raised its position in U.S. Bancorp by 5.4% in the 2nd quarter. Cardinal Capital Management Inc. now owns 326,565 shares of the financial services provider's stock worth $19,725,000 after buying an additional 16,814 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of U.S. Bancorp by 6.9% in the 1st quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider's stock worth $822,800,000 after buying an additional 1,022,898 shares during the last quarter. Institutional investors own 77.60% of the company's stock.

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.