U.S. Bancorp (NYSE:USB) Upgraded at Piper Sandler

U.S. Bancorp (NYSE:USB) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday. The firm currently has a $58.00 price objective on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 22.23% from the stock’s current price.

Several other research analysts also recently weighed in on the company. 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 research note on Thursday, December 19th. Truist Financial began coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective for the company. Barclays increased their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft downgraded 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, Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.07.

U.S. Bancorp Trading Down 2.2 %

Shares of NYSE:USB opened at $47.45 on Monday. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The company has a market capitalization of $74.02 billion, a PE ratio of 14.51, a PEG ratio of 3.01 and a beta of 1.05. The business has a 50 day moving average of $50.20 and a two-hundred day moving average of $46.55. 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 announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the company posted $1.05 earnings per share. U.S. Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On U.S. Bancorp

Hedge funds have recently bought and sold shares of the stock. Natixis Advisors LLC raised its position in U.S. Bancorp by 16.6% in the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after purchasing an additional 56,990 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in U.S. Bancorp in the 4th quarter valued at about $1,018,000. M&T Bank Corp raised its position in U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after purchasing an additional 22,803 shares in the last quarter. Hilltop Holdings Inc. raised its position in U.S. Bancorp by 184.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after purchasing an additional 45,560 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in U.S. Bancorp by 544.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock valued at $635,000 after purchasing an additional 11,737 shares in the last quarter. Institutional investors and hedge funds 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.