U.S. Bancorp (NYSE:USB) Price Target Cut to $45.00 by Analysts at The Goldman Sachs Group

U.S. Bancorp (NYSE:USB) had its price objective lowered by investment analysts at The Goldman Sachs Group from $51.00 to $45.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 6.17% from the company’s previous close.

Other analysts also recently issued reports about the stock. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $65.00 in a report on Monday, November 25th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a report on Thursday, December 19th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Morgan Stanley lowered their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Bank of America lowered their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.93.

U.S. Bancorp Stock Performance

Shares of USB stock traded up $0.10 during trading hours on Wednesday, hitting $42.38. The company’s stock had a trading volume of 467,300 shares, compared to its average volume of 9,680,331. The company has a 50 day moving average of $46.63 and a 200 day moving average of $47.73. The stock has a market cap of $66.03 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data 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 business had revenue of $7.01 billion for 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 business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS. On average, sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Insider Activity

In other news, insider Jodi L. Richard sold 30,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the sale, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 over the last three months. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group increased its position 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 purchasing an additional 201 shares during the last quarter. Capital Performance Advisors LLP increased its position in U.S. Bancorp by 2.6% during the fourth quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 210 shares during the last quarter. HCR Wealth Advisors increased its position in U.S. Bancorp by 1.1% during the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock worth $962,000 after purchasing an additional 211 shares during the last quarter. Covestor Ltd increased its position in U.S. Bancorp by 12.3% during the fourth quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 214 shares during the last quarter. Finally, Priebe Wealth Holdings LLC increased its position in U.S. Bancorp by 4.4% during the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 215 shares during 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.