Barclays Trims U.S. Bancorp (NYSE:USB) Target Price to $52.00

U.S. Bancorp (NYSE:USB) had its target price reduced by equities researchers at Barclays from $56.00 to $52.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would suggest a potential upside of 30.78% from the company’s previous close.

A number of other brokerages have also recently issued reports on USB. Stephens cut shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, December 20th. Piper Sandler reaffirmed a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $45.00 price target (down previously from $52.00) on shares of U.S. Bancorp in a research note on Thursday. Evercore ISI increased their price target on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Finally, HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price target for the stock from $47.00 to $53.00 in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp has an average rating of “Hold” and an average price target of $46.86.

U.S. Bancorp Stock Performance

Shares of NYSE:USB traded up $0.24 on Thursday, reaching $39.76. The company’s stock had a trading volume of 2,320,728 shares, compared to its average volume of 8,692,074. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s 50-day moving average is $42.33 and its two-hundred day moving average is $39.72. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $45.85. The stock has a market capitalization of $61.95 billion, a P/E ratio of 12.06, a PEG ratio of 2.12 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The business had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the business earned $1.16 EPS. The business’s revenue was down 6.4% on a year-over-year basis. As a group, sell-side analysts forecast that U.S. Bancorp will post 3.87 EPS for the current year.

Insider Transactions at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the transaction, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the transaction, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in U.S. Bancorp by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after purchasing an additional 6,479,642 shares in the last quarter. Mufg Bank LTD. grew its holdings in shares of U.S. Bancorp by 54.1% during the 3rd quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock valued at $2,260,450,000 after acquiring an additional 24,000,000 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of U.S. Bancorp by 130,768.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock valued at $2,628,544,000 after acquiring an additional 60,227,825 shares in the last quarter. FMR LLC grew its holdings in shares of U.S. Bancorp by 1.8% during the 3rd quarter. FMR LLC now owns 37,470,199 shares of the financial services provider’s stock valued at $1,238,765,000 after acquiring an additional 674,583 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of U.S. Bancorp by 8.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock valued at $1,459,363,000 after acquiring an additional 2,598,163 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

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.