U.S. Bancorp's (USB) Buy (B-) Rating Reaffirmed at Weiss Ratings

Key Points

• U.S. Bancorp's stock received a "buy (B-)" rating reaffirmed by Weiss Ratings, indicating positive sentiment from equities research analysts.
• Citigroup raised its price target for U.S. Bancorp from $65.00 to $70.00 while maintaining a "buy" rating, reflecting growing confidence in the stock's performance.
• The company reported an EPS of $1.22 for the quarter, surpassing expectations and marking a 6.8% revenue increase year-over-year.

U.S. Bancorp (NYSE:USB - Get Free Report)'s stock had its "buy (b-)" rating reiterated by equities research analysts at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

Other equities analysts also recently issued research reports about the company. Citigroup increased their price objective on U.S. Bancorp from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, October 17th. Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and increased their price objective for the stock from $51.00 to $57.00 in a report on Monday, July 7th. Wells Fargo & Company increased their price objective on U.S. Bancorp from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Friday, October 17th. Bank of America increased their price objective on U.S. Bancorp from $54.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, October 17th. Finally, Oppenheimer decreased their price objective on U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating for the company in a report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, U.S. Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $54.55.

U.S. Bancorp Trading Up 1.2%

Shares of U.S. Bancorp stock traded up $0.58 during midday trading on Friday, reaching $48.40. 5,361,995 shares of the company's stock traded hands, compared to its average volume of 10,420,208. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $75.31 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 1.26 and a beta of 1.06. The stock has a 50 day moving average of $48.05 and a 200-day moving average of $45.05. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced 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 the consensus estimate of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP James L. Chosy sold 26,909 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the sale, the executive vice president directly owned 226,375 shares of the company's stock, valued at $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the sale, the chairman directly owned 1,360,414 shares in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.23% of the company's stock.

Institutional Investors Weigh In On U.S. Bancorp

Several institutional investors have recently modified their holdings of USB. Bayforest Capital Ltd boosted its position in U.S. Bancorp by 10.8% in the third quarter. Bayforest Capital Ltd now owns 11,205 shares of the financial services provider's stock worth $542,000 after purchasing an additional 1,090 shares during the last quarter. Cedar Mountain Advisors LLC boosted its position in U.S. Bancorp by 63.2% in the third quarter. Cedar Mountain Advisors LLC now owns 1,655 shares of the financial services provider's stock worth $80,000 after purchasing an additional 641 shares during the last quarter. Culbertson A N & Co. Inc. boosted its position in U.S. Bancorp by 6.8% in the third quarter. Culbertson A N & Co. Inc. now owns 128,606 shares of the financial services provider's stock worth $6,216,000 after purchasing an additional 8,165 shares during the last quarter. Forum Financial Management LP boosted its position in U.S. Bancorp by 6.9% in the third quarter. Forum Financial Management LP now owns 27,508 shares of the financial services provider's stock worth $1,329,000 after purchasing an additional 1,784 shares during the last quarter. Finally, Legacy Trust boosted its position in U.S. Bancorp by 16.2% in the third quarter. Legacy Trust now owns 65,402 shares of the financial services provider's stock worth $3,161,000 after purchasing an additional 9,142 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Company Profile

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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