U.S. Bancorp (NYSE:USB) Given New $49.00 Price Target at Bank of America

U.S. Bancorp (NYSE:USB) had its target price dropped by stock analysts at Bank of America from $50.00 to $49.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price target indicates a potential upside of 16.50% from the stock’s current price.

Several other research firms have also issued reports on USB. Truist Financial assumed coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target for the company. Barclays raised their target price on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Compass Point increased their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research note on Monday, January 13th. Finally, DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.98.

U.S. Bancorp Stock Up 2.8 %

Shares of USB stock opened at $42.06 on Monday. The stock has a 50 day moving average of $46.90 and a 200-day moving average of $47.80. The firm has a market cap of $65.53 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS. On average, equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the transaction, the insider now owns 99,790 shares of the company’s stock, valued at $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock worth $10,385,665 in the last quarter. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

A number of institutional investors have recently modified their holdings of USB. Winch Advisory Services LLC raised its stake in U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 490 shares in the last quarter. J.Safra Asset Management Corp bought a new position in U.S. Bancorp in the 4th quarter valued at approximately $26,000. FPC Investment Advisory Inc. acquired a new stake in U.S. Bancorp in the fourth quarter valued at approximately $28,000. Global Wealth Strategies & Associates increased its holdings in shares of U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after buying an additional 250 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of U.S. Bancorp in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

About U.S. Bancorp

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.