U.S. Bancorp (NYSE:USB) Given New $52.00 Price Target at Morgan Stanley

U.S. Bancorp (NYSE:USB - Get Free Report) had its price target hoisted by equities research analysts at Morgan Stanley from $51.00 to $52.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Morgan Stanley's price target would indicate a potential upside of 13.74% from the company's previous close.

Several other research firms have also recently issued reports on USB. Oppenheimer increased their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Truist Financial increased their target price on shares of U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. TD Cowen assumed coverage on shares of U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 price target on the stock. DA Davidson reduced their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Citigroup raised their price objective on shares of U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of "Moderate Buy" and an average target price of $52.07.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock traded up $0.51 during trading on Friday, hitting $45.72. 15,539,613 shares of the stock were exchanged, compared to its average volume of 9,493,213. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The stock's fifty day moving average is $44.74 and its 200 day moving average is $44.31. The stock has a market cap of $71.23 billion, a PE ratio of 10.94, a P/E/G ratio of 1.74 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. U.S. Bancorp's revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

Insider Buying and Selling

In other news, Director Aleem Gillani bought 5,000 shares of the business's stock in a transaction on Monday, April 21st. The shares were bought at an average cost of $37.32 per share, with a total value of $186,600.00. Following the purchase, the director directly owned 15,000 shares in the company, valued at $559,800. This trade represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. FIL Ltd boosted its stake in shares of U.S. Bancorp by 42.0% during the 4th quarter. FIL Ltd now owns 28,872 shares of the financial services provider's stock valued at $1,381,000 after buying an additional 8,542 shares during the period. Wesbanco Bank Inc. boosted its position in U.S. Bancorp by 31.6% during the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock valued at $13,724,000 after purchasing an additional 78,146 shares during the last quarter. Vanguard Group Inc. grew its stake in U.S. Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock valued at $6,640,569,000 after purchasing an additional 1,079,056 shares in the last quarter. Becker Capital Management Inc. increased its position in U.S. Bancorp by 1.5% in the 4th quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider's stock worth $27,069,000 after purchasing an additional 8,204 shares during the last quarter. Finally, United Community Bank raised its stake in shares of U.S. Bancorp by 21.8% during the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock worth $2,072,000 after purchasing an additional 8,796 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.