UBS Group Raises U.S. Bancorp (NYSE:USB) Price Target to $66.00

Key Points

• UBS Group raised its price target on U.S. Bancorp (NYSE:USB) from $58 to $66, while keeping a neutral rating. The new target implies about 5% upside from the prior close.
• Other analysts have also adjusted their views on USB, including Barclays and Jefferies turning more bullish, while JPMorgan remained negative with an underweight rating. Overall, analysts still view the stock as a Moderate Buy with an average target of $63.92.
• U.S. Bancorp recently posted better-than-expected earnings, with EPS of $1.18 and revenue of $7.32 billion, both topping estimates. The stock was trading near its 52-week high at $62.83, and insiders have recently sold shares.

U.S. Bancorp (NYSE:USB - Get Free Report) had its price objective upped by research analysts at UBS Group from $58.00 to $66.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. UBS Group's price objective suggests a potential upside of 5.05% from the company's previous close.

USB has been the topic of several other reports. Barclays raised their price objective on U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a research note on Friday, April 17th. Oppenheimer lowered their target price on U.S. Bancorp from $74.00 to $73.00 and set an "outperform" rating for the company in a research note on Tuesday, June 30th. Jefferies Financial Group raised shares of U.S. Bancorp from a "hold" rating to a "buy" rating and increased their target price for the stock from $60.00 to $75.00 in a report on Monday. JPMorgan Chase & Co. raised their price target on shares of U.S. Bancorp from $57.50 to $65.00 and gave the company an "underweight" rating in a research note on Monday. Finally, Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Monday. Fifteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $63.92.

U.S. Bancorp Stock Performance

NYSE USB opened at $62.83 on Tuesday. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $63.05. The firm has a market capitalization of $97.46 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 1.07 and a beta of 0.96. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm's 50 day simple moving average is $56.57 and its 200 day simple moving average is $55.51.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to analysts' expectations of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The company's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 earnings per share. As a group, research analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares of the company's stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On U.S. Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in USB. Clayton Financial Group LLC bought a new position in U.S. Bancorp during the 4th quarter worth approximately $25,000. Financial Life Planners bought a new stake in shares of U.S. Bancorp in the 3rd quarter valued at $25,000. Main Street Group LTD acquired a new stake in shares of U.S. Bancorp during the first quarter worth $28,000. Rossby Financial LCC increased its position in shares of U.S. Bancorp by 57.8% during the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider's stock worth $31,000 after buying an additional 212 shares during the period. Finally, NFSG Corp bought a new position in U.S. Bancorp during the first quarter worth $31,000. 77.60% of the stock is owned by institutional investors and hedge funds.

More U.S. Bancorp News

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Jefferies upgraded U.S. Bancorp (USB) to Buy and raised its price target to $75, reflecting confidence in improving earnings leverage and fee-based growth. Article Title
• Positive Sentiment: Wells Fargo increased its price target on USB to $66 and reiterated an Overweight rating, signaling continued optimism on the stock. Article Title
• Positive Sentiment: U.S. Bank subsidiary Elavon announced a partnership with Wix to launch unified commerce solutions for small businesses, which could support payments growth and expand business activity for USB. Article Title
• Neutral Sentiment: JPMorgan raised its target on USB to $65 but kept an Underweight rating, reflecting mixed sentiment rather than a clear bullish turn. Article Title
• Neutral Sentiment: Seeking Alpha published a bullish earnings outlook piece on U.S. Bancorp, suggesting investors are focusing on potential Q2 strength, though it does not appear to be a fresh company announcement. Article Title
• Negative Sentiment: No major negative company-specific developments were reported in the latest articles, but JPMorgan’s Underweight stance shows not all analysts are fully bullish on USB.

About U.S. Bancorp

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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