U.S. Bancorp (NYSE:USB) Price Target Raised to $55.00 at Bank of America

Key Points

• Bank of America has raised its price target for U.S. Bancorp from $54.00 to $55.00, suggesting a potential upside of 20.56% based on the stock's previous close.
• U.S. Bancorp reported quarterly earnings of $1.22 EPS, exceeding analysts' expectations of $1.11, along with a 6.8% increase in revenue compared to the same period last year.
• Analyst ratings for U.S. Bancorp show a consensus of Moderate Buy, with one Strong Buy, thirteen Buy, seven Hold, and one Sell ratings among various analysts.

U.S. Bancorp (NYSE:USB - Get Free Report) had its price target boosted by Bank of America from $54.00 to $55.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the financial services provider's stock. Bank of America's price objective points to a potential upside of 20.56% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Weiss Ratings reiterated a "buy (b-)" rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. UBS Group boosted their price target on U.S. Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 7th. Truist Financial boosted their price target on U.S. Bancorp from $49.00 to $51.00 and gave the stock a "hold" rating in a research note on Wednesday, September 17th. Finally, The Goldman Sachs Group set a $52.00 price target on U.S. Bancorp in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $53.83.

U.S. Bancorp Trading Down 1.8%

USB opened at $45.62 on Friday. The stock has a market cap of $70.99 billion, a PE ratio of 10.91, a PEG ratio of 1.36 and a beta of 1.06. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The business has a 50 day moving average of $47.91 and a 200-day moving average of $44.78. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion during the quarter, compared to analysts' expectations of $7.17 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The firm's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. Equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Insider Activity at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the sale, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company's stock.

Institutional Investors Weigh In On U.S. Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in USB. Brighton Jones LLC raised its position in U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock valued at $2,309,000 after purchasing an additional 36,863 shares during the period. GAMMA Investing LLC lifted its stake in shares of U.S. Bancorp by 0.9% during the 1st quarter. GAMMA Investing LLC now owns 36,656 shares of the financial services provider's stock worth $1,548,000 after acquiring an additional 333 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $327,000. Janney Montgomery Scott LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $12,261,000. Finally, Kingswood Wealth Advisors LLC lifted its stake in shares of U.S. Bancorp by 3.4% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 10,495 shares of the financial services provider's stock worth $443,000 after acquiring an additional 350 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

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.

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