Piper Sandler Lowers U.S. Bancorp (NYSE:USB) Price Target to $53.00

U.S. Bancorp (NYSE:USB – Get Rating) had its price target dropped by equities researchers at Piper Sandler from $57.00 to $53.00 in a report issued on Friday, The Fly reports. Piper Sandler’s price target points to a potential upside of 30.48% from the company’s previous close.

USB has been the topic of a number of other research reports. Morgan Stanley reduced their price objective on U.S. Bancorp from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 6th. Oppenheimer boosted their price objective on U.S. Bancorp from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, February 2nd. DA Davidson began coverage on U.S. Bancorp in a research report on Tuesday, December 20th. They set a “neutral” rating and a $47.00 price objective on the stock. Credit Suisse Group lifted their target price on U.S. Bancorp from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, January 26th. Finally, Keefe, Bruyette & Woods raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $52.00 to $58.00 in a report on Monday, December 12th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $54.83.

U.S. Bancorp Trading Down 4.0 %

Shares of USB opened at $40.62 on Friday. U.S. Bancorp has a 52-week low of $38.39 and a 52-week high of $57.92. The business’s fifty day moving average is $47.35 and its 200-day moving average is $44.81. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.79. The firm has a market cap of $62.22 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 1.30 and a beta of 0.98.

U.S. Bancorp (NYSE:USB – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The business had revenue of $6.37 billion for the quarter, compared to analyst estimates of $6.61 billion. U.S. Bancorp had a return on equity of 16.13% and a net margin of 21.26%. U.S. Bancorp’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS. Equities analysts anticipate that U.S. Bancorp will post 5.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Andrew Cecere sold 84,948 shares of the company’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $43.51, for a total transaction of $3,696,087.48. Following the transaction, the chief executive officer now directly owns 956,742 shares of the company’s stock, valued at approximately $41,627,844.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Retirement Financial Solutions LLC acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $25,000. Hollencrest Capital Management bought a new stake in U.S. Bancorp during the 4th quarter worth approximately $26,000. EWG Elevate Inc. bought a new stake in U.S. Bancorp during the 4th quarter worth approximately $28,000. Mach 1 Financial Group LLC bought a new stake in U.S. Bancorp during the 3rd quarter worth approximately $26,000. Finally, SRS Capital Advisors Inc. increased its holdings in U.S. Bancorp by 46.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 673 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 215 shares in the last quarter. 71.83% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Company Profile

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U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.