U.S. Bancorp (NYSE:USB) Price Target Raised to $65.00

U.S. Bancorp (NYSE:USB) had its target price increased by equities researchers at Evercore ISI from $60.00 to $65.00 in a research note issued on Thursday, MarketBeat reports. The brokerage currently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s price target points to a potential upside of 10.05% from the stock’s current price.

Several other equities research analysts have also recently weighed in on USB. Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. Citigroup raised their target price on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 17th. DA Davidson upped their price objective on shares of U.S. Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Wells Fargo & Company raised their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Finally, HSBC reaffirmed a “buy” rating and set a $62.00 price objective on shares of U.S. Bancorp in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.90.

U.S. Bancorp Price Performance

USB stock traded down $0.36 during trading on Thursday, hitting $59.07. 4,535,447 shares of the stock traded hands, compared to its average volume of 12,241,818. The stock has a market cap of $91.81 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 1.05 and a beta of 1.06. U.S. Bancorp has a one year low of $35.18 and a one year high of $60.60. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a 50 day simple moving average of $54.13 and a 200 day simple moving average of $49.69.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.07. The company had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.31 billion. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.07 earnings per share. Equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Hedge Funds Weigh In On U.S. Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in U.S. Bancorp by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after buying an additional 1,828,404 shares in the last quarter. State Street Corp boosted its holdings in U.S. Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock valued at $3,378,808,000 after purchasing an additional 648,943 shares during the period. Geode Capital Management LLC boosted its holdings in U.S. Bancorp by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock valued at $1,650,305,000 after purchasing an additional 456,890 shares during the period. Davis Selected Advisers grew its position in shares of U.S. Bancorp by 13.4% during the 4th quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock worth $1,176,148,000 after purchasing an additional 2,610,197 shares in the last quarter. Finally, Norges Bank bought a new position in shares of U.S. Bancorp during the second quarter worth approximately $971,285,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.