Wolfe Research Upgrades U.S. Bancorp (NYSE:USB) to Outperform

U.S. Bancorp (NYSE:USB) was upgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm presently has a $49.00 price objective on the financial services provider’s stock. Wolfe Research’s target price would indicate a potential upside of 33.22% from the company’s current price.

USB has been the topic of a number of other research reports. Compass Point increased their price target 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. Truist Financial initiated coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price on the stock. Oppenheimer lifted their price target on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 17th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company dropped their price target on shares of U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.89.

U.S. Bancorp Stock Performance

NYSE USB opened at $36.78 on Thursday. 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 fifty-two week low of $35.74 and a fifty-two week high of $53.98. The business has a fifty day moving average of $44.92 and a 200-day moving average of $47.41. The stock has a market cap of $57.30 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate 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 firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 EPS. As a group, analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the sale, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On U.S. Bancorp

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new position in U.S. Bancorp during the 4th quarter worth approximately $1,018,000. Vanguard Group Inc. raised its position in shares of U.S. Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock valued at $6,640,569,000 after acquiring an additional 1,079,056 shares in the last quarter. M&T Bank Corp lifted its stake in U.S. Bancorp by 2.8% during the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after purchasing an additional 22,803 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in U.S. Bancorp by 11.3% in the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock worth $18,212,000 after purchasing an additional 38,802 shares during the period. Finally, Keystone Financial Planning Inc. increased its stake in U.S. Bancorp by 29.5% during the fourth quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock valued at $3,473,000 after purchasing an additional 16,552 shares during the last quarter. Institutional investors 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.