Morgan Stanley Increases U.S. Bancorp (NYSE:USB) Price Target to $60.00

Last updated on Thursday, April 22, 2021 | 2021 MarketBeat

U.S. Bancorp (NYSE:USB) had its target price boosted by research analysts at Morgan Stanley from $58.00 to $60.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price objective points to a potential upside of 5.28% from the company's previous close.

Other analysts have also recently issued research reports about the stock. Credit Suisse Group lifted their price target on shares of U.S. Bancorp from $56.00 to $57.00 and gave the company a "neutral" rating in a report on Friday, April 16th. Citigroup lifted their price target on shares of U.S. Bancorp from $63.00 to $65.00 in a report on Wednesday. Robert W. Baird reiterated a "neutral" rating and issued a $55.00 price target on shares of U.S. Bancorp in a report on Thursday, March 25th. Odeon Capital Group upgraded shares of U.S. Bancorp from a "hold" rating to a "buy" rating in a report on Wednesday, March 24th. Finally, Barclays lifted their price target on shares of U.S. Bancorp from $61.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, April 7th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of "Buy" and an average target price of $55.88.

Shares of U.S. Bancorp stock opened at $56.99 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.80 and a current ratio of 0.82. U.S. Bancorp has a 52-week low of $28.36 and a 52-week high of $58.46. The stock has a market capitalization of $85.63 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 2.26 and a beta of 1.09. The company's 50 day moving average price is $55.22 and its 200-day moving average price is $47.25.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 14th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.49. U.S. Bancorp had a net margin of 18.68% and a return on equity of 10.99%. The firm had revenue of $5.47 billion for the quarter, compared to analysts' expectations of $5.53 billion. During the same quarter last year, the business earned $0.72 earnings per share. The business's revenue was down 5.2% on a year-over-year basis. As a group, equities research analysts forecast that U.S. Bancorp will post 3.06 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Vantage Consulting Group Inc purchased a new position in shares of U.S. Bancorp in the 4th quarter worth about $27,000. Field & Main Bank bought a new stake in U.S. Bancorp in the 4th quarter worth about $27,000. Salem Investment Counselors Inc. increased its holdings in U.S. Bancorp by 92.3% in the 4th quarter. Salem Investment Counselors Inc. now owns 600 shares of the financial services provider's stock worth $28,000 after buying an additional 288 shares in the last quarter. Diversified LLC bought a new stake in U.S. Bancorp in the 4th quarter worth about $28,000. Finally, Valley Brook Capital Group bought a new stake in U.S. Bancorp in the 4th quarter worth about $37,000. 71.73% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.

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