U.S. Bancorp (NYSE:USB) Price Target Raised to $59.00

U.S. Bancorp (NYSE:USB - Get Free Report) had its price objective hoisted by investment analysts at Oppenheimer from $57.00 to $59.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Oppenheimer's price objective suggests a potential upside of 48.19% from the company's previous close.

Several other research firms also recently weighed in on USB. Wells Fargo & Company dropped their target price on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Piper Sandler decreased their target price on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Citigroup cut their price target on shares of U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Keefe, Bruyette & Woods cut their target price on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Finally, Wolfe Research raised shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price target for the company in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp has an average rating of "Moderate Buy" and a consensus price target of $50.48.

U.S. Bancorp Price Performance

USB traded down $0.11 during trading on Monday, reaching $39.82. The company's stock had a trading volume of 2,180,233 shares, compared to its average volume of 9,053,673. The firm has a fifty day simple moving average of $41.71 and a two-hundred day simple moving average of $46.62. The company has a market cap of $62.03 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.73 and a beta of 0.91. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. The firm had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same period in the prior year, the firm posted $0.78 earnings per share. As a group, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani bought 5,000 shares of U.S. Bancorp stock in a transaction that occurred on Monday, April 21st. The shares were purchased at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the acquisition, the director now owns 15,000 shares of the company's stock, valued at $559,800. The trade was a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock valued at $10,385,665 over the last quarter. Corporate insiders own 0.23% of the company's stock.

Institutional Investors Weigh In On U.S. Bancorp

Large investors have recently modified their holdings of the stock. FIL Ltd lifted its holdings in U.S. Bancorp by 42.0% in the 4th quarter. FIL Ltd now owns 28,872 shares of the financial services provider's stock worth $1,381,000 after buying an additional 8,542 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of U.S. Bancorp in the fourth quarter worth about $1,018,000. Vanguard Group Inc. boosted its holdings 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 during the last quarter. M&T Bank Corp grew its stake in U.S. Bancorp by 36.9% during the 4th quarter. M&T Bank Corp now owns 1,158,848 shares of the financial services provider's stock valued at $55,427,000 after purchasing an additional 312,504 shares in the last quarter. Finally, D.A. Davidson & CO. grew its stake in U.S. Bancorp by 11.3% during the 4th quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider's stock valued at $18,212,000 after purchasing an additional 38,802 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.

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