Truist Financial Lowers U.S. Bancorp (NYSE:USB) Price Target to $51.00

U.S. Bancorp (NYSE:USB) had its price objective cut by equities research analysts at Truist Financial from $54.00 to $51.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective would suggest a potential upside of 38.66% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. Citigroup decreased their target price on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $43.50 target price (down previously from $51.00) on shares of U.S. Bancorp in a research report on Thursday. DA Davidson upgraded 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. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research report on Thursday, December 19th. Finally, Oppenheimer upped their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.89.

U.S. Bancorp Trading Down 5.2 %

Shares of USB opened at $36.78 on Friday. The stock’s fifty day simple moving average is $44.92 and its 200-day simple moving average is $47.43. The firm has a market capitalization of $57.30 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a 12-month low of $35.74 and a 12-month high of $53.98. 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 (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS. As a group, research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

Insider Activity

In related news, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the sale, the executive vice president now owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the business’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 completion of the transaction, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 over the last three months. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

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