U.S. Bancorp (NYSE:USB) Price Target Raised to $60.00 at TD Cowen

Key Points

• U.S. Bancorp's stock price target was raised by TD Cowen from $59.00 to $60.00, reflecting a potential upside of 27.97% from the current price.
• U.S. Bancorp reported $1.22 earnings per share for the quarter, exceeding analyst expectations of $1.11 and showing a 6.8% increase in quarterly revenue from the previous year.
• Analyst ratings for U.S. Bancorp include one Strong Buy, fourteen Buy, six Hold, and one Sell, with an average rating of Moderate Buy.

U.S. Bancorp (NYSE:USB - Get Free Report) had its target price boosted by analysts at TD Cowen from $59.00 to $60.00 in a report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. TD Cowen's price target would indicate a potential upside of 27.97% from the stock's current price.

A number of other equities research analysts have also commented on the company. UBS Group upped their price target on U.S. Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a research report on Tuesday, October 7th. Bank of America upped their target price on U.S. Bancorp from $54.00 to $55.00 and gave the company a "buy" rating in a research report on Friday. Weiss Ratings restated a "buy (b-)" rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. The Goldman Sachs Group set a $52.00 target price on U.S. Bancorp and gave the company a "neutral" rating in a research report on Friday. Finally, Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $51.00 to $57.00 in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $54.48.

U.S. Bancorp Price Performance

USB stock traded up $1.20 during midday trading on Monday, reaching $46.89. 2,261,169 shares of the stock were exchanged, compared to its average volume of 10,407,159. The stock has a market capitalization of $72.97 billion, a PE ratio of 10.70, a P/E/G ratio of 1.31 and a beta of 1.06. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. The company has a fifty day moving average price of $47.93 and a 200 day moving average price of $44.86.

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 for the quarter, topping analysts' consensus estimates of $1.11 by $0.11. The business had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.U.S. Bancorp's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. As a group, analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Institutional Trading of U.S. Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. IMG Wealth Management Inc. purchased a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $25,000. Saudi Central Bank purchased a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $26,000. Westend Capital Management LLC purchased a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $27,000. Hillsdale Investment Management Inc. purchased a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $27,000. Finally, YANKCOM Partnership increased its position in shares of U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 260 shares during the last quarter. 77.60% of the stock is 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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