U.S. Bancorp (NYSE:USB) Given New $51.00 Price Target at Morgan Stanley

U.S. Bancorp (NYSE:USB) had its price target cut by analysts at Morgan Stanley from $55.00 to $51.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 39.45% from the stock’s previous close.

A number of other brokerages have also recently weighed in on USB. The Goldman Sachs Group dropped their price objective on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Bank of America reduced their price objective 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, March 17th. Truist Financial cut their price target on U.S. Bancorp from $54.00 to $51.00 and set a “hold” rating on the stock in a research note on Friday. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a report on Monday, January 13th. Finally, Barclays raised their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $52.52.

U.S. Bancorp Trading Down 0.7 %

USB stock traded down $0.26 during midday trading on Monday, hitting $36.57. 9,760,910 shares of the company’s stock were exchanged, compared to its average volume of 8,716,086. The stock has a market capitalization of $56.98 billion, a PE ratio of 9.64, a P/E/G ratio of 1.73 and a beta of 0.91. 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 1-year low of $34.73 and a 1-year high of $53.98. The business has a 50-day simple moving average of $44.92 and a two-hundred day simple moving average of $47.44.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 EPS. On average, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Insider Activity at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by company insiders.

Institutional Trading of U.S. Bancorp

Large investors have recently modified their holdings of the company. Capital Performance Advisors LLP increased its stake in shares of U.S. Bancorp by 2.6% in the fourth quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 210 shares during the period. HCR Wealth Advisors increased its position in U.S. Bancorp by 1.1% in the 4th quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock valued at $962,000 after acquiring an additional 211 shares during the period. Covestor Ltd raised its stake in U.S. Bancorp by 12.3% during the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 214 shares in the last quarter. Priebe Wealth Holdings LLC grew its stake in shares of U.S. Bancorp by 4.4% in 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 in the last quarter. Finally, Essex Savings Bank raised its stake in shares of U.S. Bancorp by 1.8% during the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after purchasing an additional 216 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

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.