Royal Bank of Canada Issues Pessimistic Forecast for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its target price reduced by stock analysts at Royal Bank of Canada from $57.00 to $50.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 30.87% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. The Goldman Sachs Group lowered their target price on shares of 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. Truist Financial dropped their price objective on U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating on the stock in a report on Thursday. Wolfe Research upgraded U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 target price for the company in a research note on Thursday, April 3rd. Oppenheimer increased their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Barclays reduced their price objective on shares of U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.66.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $38.21 on Thursday. The stock has a market cap of $59.53 billion, a PE ratio of 10.08, a price-to-earnings-growth 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 business has a 50-day simple moving average of $42.55 and a 200-day simple moving average of $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 posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same period in the previous year, the firm earned $0.78 EPS. On average, equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,451 shares of the stock in a transaction dated 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 directly owns 198,127 shares in the company, valued at $9,440,751.55. This represents a 9.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 over the last quarter. 0.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On U.S. Bancorp

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

U.S. Bancorp Company Profile

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.