U.S. Bancorp (NYSE:USB) Price Target Raised to $46.00

U.S. Bancorp (NYSE:USB) had its target price raised by The Goldman Sachs Group from $41.00 to $46.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

USB has been the topic of several other research reports. Barclays reduced their target price on shares of U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Raymond James reiterated an “outperform” rating and set a $51.00 target price (down previously from $57.00) on shares of U.S. Bancorp in a research report on Thursday, April 17th. Bank of America reduced their price target on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Wall Street Zen lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, June 7th. Finally, Keefe, Bruyette & Woods decreased their target price on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating for the company in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.72.

U.S. Bancorp Price Performance

Shares of USB stock opened at $44.17 on Tuesday. 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 firm’s 50 day moving average is $41.61 and its 200-day moving average is $45.20. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The firm has a market capitalization of $68.82 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 1.73 and a beta of 0.99.

U.S. Bancorp (NYSE:USB) last released 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. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. Sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani acquired 5,000 shares of the stock in a transaction dated Monday, April 21st. The shares were bought at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $559,800. This trade represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock worth $5,962,742,000 after buying an additional 2,393,383 shares during the last quarter. FMR LLC raised its holdings in U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock worth $3,210,624,000 after acquiring an additional 3,211,815 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in U.S. Bancorp by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after purchasing an additional 2,460,845 shares during the last quarter. Geode Capital Management LLC boosted its position in U.S. Bancorp by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider’s stock valued at $1,618,948,000 after purchasing an additional 850,763 shares during the last quarter. Finally, Amundi grew its stake in U.S. Bancorp by 2.2% in the first quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock valued at $773,268,000 after purchasing an additional 422,050 shares in the last quarter. 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.