U.S. Bancorp (NYSE:USB) Price Target Raised to $61.00

U.S. Bancorp (NYSE:USB) had its price objective increased by stock analysts at Barclays from $57.00 to $61.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would suggest a potential upside of 23.58% from the stock’s previous close.

Other analysts have also issued reports about the company. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. The Goldman Sachs Group reduced their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $58.00 to $60.00 in a research note on Thursday. Finally, Piper Sandler upped their target price on shares of U.S. Bancorp from $52.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.08.

U.S. Bancorp Stock Up 1.0 %

NYSE:USB traded up $0.50 during mid-day trading on Monday, hitting $49.36. The company had a trading volume of 1,996,993 shares, compared to its average volume of 4,812,395. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The business has a fifty day simple moving average of $50.20 and a 200-day simple moving average of $46.25. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $77.00 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 3.03 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data 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 company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. U.S. Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the company earned $1.05 earnings per share. Equities analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has approved a share repurchase program 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 reacquire up to 7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Institutional Trading of U.S. Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of USB. State Street Corp increased its stake in shares of U.S. Bancorp by 1.2% during the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after purchasing an additional 819,805 shares during the last quarter. FMR LLC boosted its holdings in U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the period. Charles Schwab Investment Management Inc. grew its position in U.S. Bancorp by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after buying an additional 1,796,336 shares in the last quarter. Geode Capital Management LLC raised its stake in U.S. Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after purchasing an additional 599,852 shares in the last quarter. Finally, Davis Selected Advisers lifted its holdings in shares of U.S. Bancorp by 0.3% during the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock worth $564,869,000 after acquiring an additional 43,437 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

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.