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

U.S. Bancorp (NYSE:USB) had its target price hoisted by Barclays from $57.00 to $61.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target suggests a potential upside of 25.15% from the company’s previous close.

Other research analysts have also issued reports about the stock. Piper Sandler raised their target price 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. Raymond James raised shares of 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. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $54.00 to $57.00 in a research report on Monday, September 30th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $54.07.

U.S. Bancorp Trading Up 0.0 %

Shares of USB opened at $48.74 on Monday. The firm has a market cap of $76.04 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 3.01 and a beta of 1.05. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The company has a 50 day simple moving average of $50.21 and a two-hundred day simple moving average of $46.38.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. On average, equities analysts expect 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 authorized a stock repurchase program on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the business. One Wealth Capital Management LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at about $238,000. First County Bank CT grew its holdings in U.S. Bancorp by 3.6% during the fourth quarter. First County Bank CT now owns 19,335 shares of the financial services provider’s stock worth $925,000 after acquiring an additional 680 shares during the period. Bank of New Hampshire raised its position in U.S. Bancorp by 8.9% during the fourth quarter. Bank of New Hampshire now owns 3,652 shares of the financial services provider’s stock valued at $175,000 after acquiring an additional 300 shares in the last quarter. Neville Rodie & Shaw Inc. lifted its holdings in U.S. Bancorp by 25.0% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 24,777 shares of the financial services provider’s stock valued at $1,185,000 after acquiring an additional 4,951 shares during the period. Finally, CWA Asset Management Group LLC boosted its position in U.S. Bancorp by 98.8% in the 4th quarter. CWA Asset Management Group LLC now owns 10,843 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 5,390 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

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.