U.S. Bancorp (NYSE:USB) Given New $48.00 Price Target at Piper Sandler

U.S. Bancorp (NYSE:USB) had its target price decreased by investment analysts at Piper Sandler from $49.00 to $48.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price indicates a potential upside of 24.50% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley cut their price objective on shares of U.S. Bancorp from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday. The Goldman Sachs Group cut their target price on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. JPMorgan Chase & Co. restated an “underweight” rating and set a $43.50 price target (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Bank of America lowered their target price 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. Finally, Oppenheimer boosted their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $51.16.

U.S. Bancorp Trading Up 1.9 %

USB stock traded up $0.74 during midday trading on Thursday, hitting $38.56. The stock had a trading volume of 6,879,554 shares, compared to its average volume of 9,035,356. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The business has a fifty day moving average price of $42.91 and a two-hundred day moving average price of $46.86. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The firm has a market cap of $60.07 billion, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same period in the previous year, the company posted $0.78 earnings per share. On average, sell-side analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the sale, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,812 shares of company stock worth $10,385,665. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

A number of institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP increased its holdings in shares of U.S. Bancorp by 2.6% in the 4th 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 in the last quarter. HCR Wealth Advisors raised 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 worth $962,000 after buying an additional 211 shares during the last quarter. Covestor Ltd lifted 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 during the period. Priebe Wealth Holdings LLC boosted its holdings in shares of U.S. Bancorp by 4.4% during the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 215 shares during the last quarter. Finally, Essex Savings Bank grew its stake in shares of U.S. Bancorp by 1.8% in the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock worth $591,000 after acquiring an additional 216 shares during the period. Hedge funds and other institutional investors 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.