U.S. Bancorp (NYSE:USB) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded U.S. Bancorp from “sell” to “hold”, adding to a generally positive analyst backdrop. The stock now carries an average rating of “Moderate Buy” with a consensus price target of $61.57.
• U.S. Bancorp reported better-than-expected quarterly results, posting $1.18 EPS versus the $1.14 estimate and revenue of $7.32 billion versus expectations of $7.27 billion. Revenue rose 4.7% year over year.
• The stock opened at $61.67, near its 52-week high of $62.38, while insider sales and continued institutional buying showed mixed ownership activity. Hedge funds and other institutional investors hold about 77.6% of the shares.

U.S. Bancorp (NYSE:USB - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Monday.

Several other analysts also recently issued reports on the company. DA Davidson restated a "buy" rating and issued a $65.00 price objective on shares of U.S. Bancorp in a research report on Friday, April 17th. Weiss Ratings upgraded shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Morgan Stanley upped their target price on shares of U.S. Bancorp from $64.00 to $67.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. Royal Bank Of Canada raised their price target on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock an "outperform" rating in a research note on Friday, April 17th. Finally, Truist Financial lifted their price target on shares of U.S. Bancorp from $62.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $61.57.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $61.67 on Monday. The firm has a market cap of $95.67 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96. U.S. Bancorp has a 52-week low of $43.46 and a 52-week high of $62.38. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The company's 50 day moving average is $56.57 and its two-hundred day moving average is $55.51.

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

Insider Activity

In related news, EVP Venkatachari Dilip sold 34,522 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of 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 worth $2,309,000 after purchasing an additional 36,863 shares in the last quarter. Empowered Funds LLC grew its stake in shares of U.S. Bancorp by 2.1% in the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider's stock valued at $1,453,000 after buying an additional 714 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of U.S. Bancorp by 18.9% in the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider's stock valued at $1,658,000 after buying an additional 6,252 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of U.S. Bancorp during the 2nd quarter valued at about $425,000. Finally, Nebula Research & Development LLC acquired a new position in U.S. Bancorp during the 2nd quarter worth approximately $701,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

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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