U.S. Bancorp (NYSE:USB) Given New $55.00 Price Target at Citigroup

U.S. Bancorp (NYSE:USB) had its price objective decreased by investment analysts at Citigroup from $65.00 to $55.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price objective indicates a potential upside of 25.77% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. 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. Barclays lifted their target price on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley decreased their target price on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research report on Monday, January 13th. Finally, The Goldman Sachs Group decreased their price objective on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.48.

U.S. Bancorp Stock Up 2.1 %

NYSE USB traded up $0.89 during trading on Monday, reaching $43.73. 1,611,887 shares of the company’s stock were exchanged, compared to its average volume of 10,809,965. The company has a 50 day moving average price of $46.31 and a two-hundred day moving average price of $47.65. The stock has a market cap of $68.13 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 earnings per share. On average, equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Insider Transactions at U.S. Bancorp

In other news, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at $58,132,431. The trade was a 7.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $1,427,700.00. Following the completion of the sale, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 in the last ninety days. 0.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On U.S. Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC grew its holdings in U.S. Bancorp by 63.1% during the 3rd quarter. Intech Investment Management LLC now owns 15,284 shares of the financial services provider’s stock valued at $699,000 after buying an additional 5,911 shares during the last quarter. Meridian Wealth Management LLC purchased a new stake in shares of U.S. Bancorp in the third quarter valued at $443,000. Cerity Partners LLC boosted its stake in shares of U.S. Bancorp by 17.0% during the third quarter. Cerity Partners LLC now owns 697,059 shares of the financial services provider’s stock valued at $31,881,000 after acquiring an additional 101,264 shares during the last quarter. Kingsview Wealth Management LLC increased its position in U.S. Bancorp by 3.8% during the 3rd quarter. Kingsview Wealth Management LLC now owns 82,499 shares of the financial services provider’s stock worth $3,773,000 after purchasing an additional 3,013 shares in the last quarter. Finally, Swedbank AB raised its stake in U.S. Bancorp by 5.1% in the 3rd quarter. Swedbank AB now owns 541,266 shares of the financial services provider’s stock valued at $24,752,000 after purchasing an additional 26,281 shares during 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.