Truist Financial Issues Positive Forecast for U.S. Bancorp (NYSE:USB) Stock Price

Key Points

• Truist Financial has raised its target price for U.S. Bancorp from $51.00 to $52.00, indicating a potential upside of 12.80% based on the stock's previous close.
• U.S. Bancorp recently reported earnings per share (EPS) of $1.22, exceeding analyst estimates of $1.11, with revenue of $7.34 billion reflecting a 6.8% increase year-over-year.
• Institutional investors hold 77.60% of U.S. Bancorp's stock, highlighting strong buying interest from hedge funds and asset management firms in recent quarters.

U.S. Bancorp (NYSE:USB - Get Free Report) had its target price boosted by equities research analysts at Truist Financial from $51.00 to $52.00 in a report issued on Friday,Benzinga reports. The firm presently has a "hold" rating on the financial services provider's stock. Truist Financial's price objective indicates a potential upside of 12.80% from the company's previous close.

USB has been the subject of a number of other reports. Bank of America lifted their target price on shares of U.S. Bancorp from $54.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday. Oppenheimer decreased their target price on shares of U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating for the company in a research report on Tuesday, September 23rd. Wells Fargo & Company upped their target price on U.S. Bancorp from $50.00 to $52.00 and gave the stock an "overweight" rating in a research note on Friday. Evercore ISI raised their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an "in-line" rating in a research note on Tuesday, September 30th. Finally, Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.88.

U.S. Bancorp Stock Up 1.0%

USB stock traded up $0.45 during trading on Friday, reaching $46.10. 3,290,594 shares of the company traded hands, compared to its average volume of 10,389,153. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The business has a 50 day simple moving average of $47.91 and a 200 day simple moving average of $44.78. The company has a market capitalization of $71.74 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.11. The firm had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. On average, equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the transaction, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by company insiders.

Institutional Trading of U.S. Bancorp

Hedge funds have recently made changes to their positions in the business. Apella Capital LLC purchased a new position in U.S. Bancorp in the 3rd quarter valued at approximately $208,000. E. Ohman J or Asset Management AB boosted its position in U.S. Bancorp by 6.3% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 67,581 shares of the financial services provider's stock valued at $3,266,000 after buying an additional 4,000 shares during the period. Apollon Wealth Management LLC boosted its position in U.S. Bancorp by 11.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider's stock valued at $1,471,000 after buying an additional 3,140 shares during the period. Hengehold Capital Management LLC grew its stake in U.S. Bancorp by 1.9% during the 3rd quarter. Hengehold Capital Management LLC now owns 83,248 shares of the financial services provider's stock worth $4,023,000 after purchasing an additional 1,569 shares in the last quarter. Finally, Bill Few Associates Inc. grew its stake in U.S. Bancorp by 3.4% during the 3rd quarter. Bill Few Associates Inc. now owns 43,544 shares of the financial services provider's stock worth $2,104,000 after purchasing an additional 1,434 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.