U.S. Bancorp (NYSE:USB) Upgraded to Buy at DA Davidson

U.S. Bancorp (NYSE:USB) was upgraded by investment analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research note issued on Thursday, Marketbeat.com reports. The brokerage currently has a $60.00 price target on the financial services provider’s stock, up from their prior price target of $58.00. DA Davidson’s price target would indicate a potential upside of 22.80% from the company’s current price.

Other research analysts also recently issued reports about the stock. Stephens raised their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research note on Thursday, December 19th. Oppenheimer raised their target price on U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Piper Sandler boosted their price target on shares of U.S. Bancorp from $52.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.88.

U.S. Bancorp Stock Up 2.1 %

Shares of U.S. Bancorp stock opened at $48.86 on Thursday. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a market capitalization of $76.22 billion, a PE ratio of 14.94, a P/E/G ratio of 3.03 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50-day moving average of $50.17 and a 200-day moving average of $46.09.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 earnings per share. As a group, equities analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp declared that its board has authorized a stock buyback plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Everence Capital Management Inc. raised its stake in U.S. Bancorp by 212.8% during the 4th quarter. Everence Capital Management Inc. now owns 43,127 shares of the financial services provider’s stock valued at $2,063,000 after purchasing an additional 29,340 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of U.S. Bancorp by 12.8% in the fourth quarter. GAMMA Investing LLC now owns 36,323 shares of the financial services provider’s stock valued at $1,737,000 after buying an additional 4,117 shares during the period. Versant Capital Management Inc grew its position in U.S. Bancorp by 47.5% during the fourth quarter. Versant Capital Management Inc now owns 1,217 shares of the financial services provider’s stock worth $58,000 after buying an additional 392 shares in the last quarter. First Financial Bank Trust Division increased its stake in U.S. Bancorp by 0.7% during the fourth quarter. First Financial Bank Trust Division now owns 31,037 shares of the financial services provider’s stock valued at $1,485,000 after acquiring an additional 224 shares during the period. Finally, Global Wealth Strategies & Associates lifted its position in shares of U.S. Bancorp by 70.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 250 shares during the period. 77.60% of the stock is owned by 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.