Raymond James Reiterates “Outperform” Rating for U.S. Bancorp (NYSE:USB)

U.S. Bancorp (NYSE:USB)‘s stock had its “outperform” rating reaffirmed by equities researchers at Raymond James in a research report issued on Thursday,Benzinga reports. They presently have a $51.00 target price on the financial services provider’s stock, down from their prior target price of $57.00. Raymond James’ price target indicates a potential upside of 33.48% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods reduced their target price on shares of U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating for the company in a report on Thursday. Truist Financial decreased their price objective on U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating for the company in a research report on Thursday. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a report on Monday, January 13th. Royal Bank of Canada decreased their price target on U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Wolfe Research raised shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price objective on the stock in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.66.

U.S. Bancorp Trading Up 1.0 %

NYSE:USB opened at $38.21 on Thursday. The company has a market capitalization of $59.53 billion, a PE ratio of 10.08, a P/E/G ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The stock’s 50 day moving average price is $42.55 and its 200 day moving average price is $46.77. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

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

Insiders Place Their Bets

In related news, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was 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 of the company’s stock, valued at $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 in the last quarter. 0.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP boosted its position in U.S. Bancorp by 2.6% during the 4th quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 210 shares during the period. HCR Wealth Advisors raised its holdings in shares of U.S. Bancorp by 1.1% during the 4th quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock valued at $962,000 after buying an additional 211 shares during the period. Covestor Ltd grew its position in U.S. Bancorp by 12.3% in the fourth quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 214 shares in the last quarter. Priebe Wealth Holdings LLC raised its stake in shares of U.S. Bancorp by 4.4% during the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 215 shares during the period. Finally, Essex Savings Bank boosted its stake in shares of U.S. Bancorp by 1.8% in the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after purchasing an additional 216 shares during the period. 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.