Keefe, Bruyette & Woods Has Lowered Expectations for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its price objective reduced by Keefe, Bruyette & Woods from $54.00 to $49.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 28.25% from the stock’s current price.

Several other equities research analysts also recently issued reports on USB. The Goldman Sachs Group reduced their price objective on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. JPMorgan Chase & Co. restated an “underweight” rating and set a $43.50 price target (down from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Morgan Stanley dropped their price objective on shares of U.S. Bancorp from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Wells Fargo & Company decreased their target price on shares of U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Finally, Truist Financial dropped their price target on shares of U.S. Bancorp from $54.00 to $51.00 and set a “hold” rating on the stock in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.66.

U.S. Bancorp Stock Performance

Shares of USB opened at $38.21 on Thursday. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a 50-day moving average of $42.55 and a two-hundred day moving average of $46.77. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market cap of $59.53 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 1.73 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.06. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same period in the previous year, the company posted $0.78 EPS. On average, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now owns 209,482 shares in the company, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock valued at $10,385,665 in the last quarter. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Institutional investors have recently added to or reduced their stakes in the company. J.Safra Asset Management Corp acquired a new position in shares of U.S. Bancorp in the fourth quarter valued at $26,000. Winch Advisory Services LLC boosted its position in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after buying an additional 490 shares in the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of U.S. Bancorp in the 4th quarter worth approximately $28,000. Global Wealth Strategies & Associates grew its holdings in shares of U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in U.S. Bancorp during the 4th quarter worth about $30,000. 77.60% of the stock is owned by institutional investors and hedge funds.

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.