U.S. Bancorp (NYSE:USB) Coverage Initiated by Analysts at Truist Financial

Stock analysts at Truist Financial initiated coverage on shares of U.S. Bancorp (NYSE:USB) in a research note issued on Tuesday,Benzinga reports. The firm set a “hold” rating and a $54.00 price target on the financial services provider’s stock. Truist Financial’s target price would indicate a potential upside of 10.88% from the stock’s current price.

Several other equities research analysts have also recently weighed in on USB. Piper Sandler boosted their target price on U.S. Bancorp from $52.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group lowered their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Compass Point lifted their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research note on Thursday, October 24th. Finally, Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a report on Thursday, December 19th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $54.07.

U.S. Bancorp Trading Down 0.3 %

Shares of NYSE:USB opened at $48.70 on Tuesday. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The company’s 50 day moving average is $50.20 and its two-hundred day moving average is $46.32. The company has a market cap of $75.97 billion, a PE ratio of 14.89, a P/E/G ratio of 3.01 and a beta of 1.05. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. U.S. Bancorp’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.05 earnings per share. Equities analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp announced that its board has approved a stock repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group boosted its holdings in U.S. Bancorp by 4.4% during the third quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock worth $219,000 after buying an additional 201 shares in the last quarter. McAdam LLC lifted its position in shares of U.S. Bancorp by 2.5% during the 3rd quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 209 shares during the period. First Financial Bank Trust Division lifted its position in shares of U.S. Bancorp by 0.7% during the 4th quarter. First Financial Bank Trust Division now owns 31,037 shares of the financial services provider’s stock valued at $1,485,000 after acquiring an additional 224 shares during the period. Covestor Ltd boosted its stake in shares of U.S. Bancorp by 15.2% during the 3rd quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 230 shares in the last quarter. Finally, Phillips Wealth Planners LLC grew its holdings in shares of U.S. Bancorp by 2.1% in the 3rd quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 243 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

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.