U.S. Bancorp (NYSE:USB) Stock Price Expected to Rise, Truist Financial Analyst Says

U.S. Bancorp (NYSE:USB) had its price objective increased by analysts at Truist Financial from $62.00 to $66.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price suggests a potential upside of 8.53% from the company’s previous close.

Several other research firms have also recently commented on USB. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Oppenheimer increased their target price on U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Stephens initiated coverage on U.S. Bancorp in a research report on Monday, June 15th. They set an “equal weight” rating and a $63.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price target on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $61.48.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded down $0.40 during mid-day trading on Friday, hitting $60.81. 3,221,606 shares of the company were exchanged, compared to its average volume of 10,188,521. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $94.33 billion, a P/E ratio of 12.74, a PEG ratio of 1.04 and a beta of 0.97. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $61.88. The business’s 50 day simple moving average is $56.00 and its two-hundred day simple moving average is $55.15.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. Analysts forecast that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Several hedge funds have recently modified their holdings of USB. Financial Life Planners purchased a new position in shares of U.S. Bancorp in the third quarter valued at $25,000. Clayton Financial Group LLC acquired a new position in U.S. Bancorp in the 4th quarter worth $25,000. Main Street Group LTD purchased a new position in U.S. Bancorp in the 1st quarter valued at about $28,000. JPL Wealth Management LLC purchased a new position in U.S. Bancorp in the 3rd quarter valued at about $28,000. Finally, Binnacle Investments Inc grew its stake in shares of U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 273 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Company Profile

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.