U.S. Bancorp's (USB) "Outperform" Rating Reiterated at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed its “Outperform” rating on U.S. Bancorp and set a $68 price target, implying approximately 9.52% upside. The stock has a consensus “Moderate Buy” rating and an average price target of $67.06.
• U.S. Bancorp exceeded quarterly expectations, reporting $1.35 in EPS versus the $1.28 consensus estimate and $7.69 billion in revenue versus $7.58 billion expected.
• Shares opened at $62.09, near their 52-week high of $66.07, while institutional investors own 77.60% of the stock. Insider ownership is limited at 0.21%, following a sale of shares by an insider.

U.S. Bancorp (NYSE:USB - Get Free Report)'s stock had its "outperform" rating reaffirmed by investment analysts at Royal Bank Of Canada in a report issued on Monday,Benzinga reports. They presently have a $68.00 price objective on the financial services provider's stock. Royal Bank Of Canada's target price indicates a potential upside of 9.52% from the stock's current price.

Several other equities analysts also recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a "market perform" rating in a report on Friday, July 17th. Raymond James Financial assumed coverage on shares of U.S. Bancorp in a research note on Wednesday, July 8th. They set a "strong-buy" rating and a $72.00 target price for the company. CLSA set a $67.50 price target on shares of U.S. Bancorp in a report on Monday, July 20th. Robert W. Baird increased their price objective on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, July 17th. Finally, Truist Financial raised their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the company a "buy" rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.06.

U.S. Bancorp Stock Up 0.1%

Shares of USB opened at $62.09 on Monday. The business's 50 day moving average is $62.40 and its 200 day moving average is $57.63. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07. The company has a market capitalization of $96.74 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.02 and a beta of 0.96.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the prior year, the company posted $1.11 EPS. Research analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the transaction, the insider owned 74,969 shares in the company, valued at $4,729,044.52. This trade represents a 32.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is currently owned by insiders.

Institutional Trading of U.S. Bancorp

Several hedge funds have recently made changes to their positions in USB. California State Teachers Retirement System lifted its holdings in shares of U.S. Bancorp by 5,893.0% in the 2nd quarter. California State Teachers Retirement System now owns 142,640,580 shares of the financial services provider's stock valued at $8,615,491,000 after acquiring an additional 140,260,472 shares during the last quarter. Alan B Lancz & Associates Inc. purchased a new stake in U.S. Bancorp during the second quarter valued at approximately $217,000. Guardian Wealth Advisors LLC NC raised its position in U.S. Bancorp by 14.1% during the second quarter. Guardian Wealth Advisors LLC NC now owns 6,729 shares of the financial services provider's stock valued at $408,000 after purchasing an additional 830 shares during the period. Wedmont Private Capital lifted its stake in shares of U.S. Bancorp by 2.6% in the 2nd quarter. Wedmont Private Capital now owns 27,718 shares of the financial services provider's stock valued at $1,730,000 after purchasing an additional 698 shares during the last quarter. Finally, Kintra Wealth LLC lifted its stake in shares of U.S. Bancorp by 18.0% in the 2nd quarter. Kintra Wealth LLC now owns 5,613 shares of the financial services provider's stock valued at $366,000 after purchasing an additional 856 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 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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