U.S. Bancorp (NYSE:USB) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

U.S. Bancorp (NYSE:USB) had its target price increased by equities researchers at Wells Fargo & Company from $60.00 to $62.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 24.25% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a report on Thursday, October 24th. UBS Group boosted their price target on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $54.00 to $57.00 in a report on Monday, September 30th. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Finally, DA Davidson raised their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $51.22.

U.S. Bancorp Stock Down 0.8 %

USB stock opened at $49.90 on Friday. The business’s 50-day moving average price is $46.99 and its 200-day moving average price is $43.69. The stock has a market cap of $77.85 billion, a P/E ratio of 15.26, a PEG ratio of 3.02 and a beta of 1.02. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a twelve month low of $36.49 and a twelve month high of $51.76.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion for 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%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 earnings per share. On average, equities research analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has initiated a stock buyback program on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was 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 of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Manning & Napier Advisors LLC purchased a new stake in shares of U.S. Bancorp in the second quarter valued at approximately $20,188,000. Janus Henderson Group PLC grew its holdings in U.S. Bancorp by 6.4% during the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after acquiring an additional 16,686 shares in the last quarter. Comerica Bank increased its position in U.S. Bancorp by 11.2% during the 1st quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock valued at $25,231,000 after purchasing an additional 56,738 shares during the period. M&G Plc raised its holdings in shares of U.S. Bancorp by 73.9% in the 2nd quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock valued at $12,570,000 after purchasing an additional 133,498 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its stake in shares of U.S. Bancorp by 1,140.5% during the first quarter. UniSuper Management Pty Ltd now owns 20,382 shares of the financial services provider’s stock valued at $911,000 after purchasing an additional 18,739 shares in the last quarter. 77.60% of the stock is currently 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.