Wells Fargo & Company Has Lowered Expectations for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its price objective decreased by Wells Fargo & Company from $56.00 to $50.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 30.87% from the company’s previous close.

Several other research analysts also recently weighed in on the company. Morgan Stanley dropped their price target on U.S. Bancorp from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. Wolfe Research raised shares of 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. Keefe, Bruyette & Woods decreased their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating on the stock in a research note on Thursday. Oppenheimer lifted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Truist Financial dropped their price target on U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.66.

U.S. Bancorp Stock Up 1.0 %

Shares of USB stock opened at $38.21 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company’s fifty day moving average price is $42.55 and its 200-day moving average price is $46.77. The company has a market capitalization 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 results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. The business had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same period last year, the firm earned $0.78 earnings per share. Sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Insider Transactions at U.S. Bancorp

In other news, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James L. Chosy sold 21,451 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by company insiders.

Institutional Trading of U.S. Bancorp

A number of large investors have recently modified their holdings of USB. FIL Ltd raised its position in U.S. Bancorp by 42.0% during the 4th quarter. FIL Ltd now owns 28,872 shares of the financial services provider’s stock valued at $1,381,000 after purchasing an additional 8,542 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at $1,018,000. Vanguard Group Inc. raised its holdings in shares of U.S. Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock valued at $6,640,569,000 after acquiring an additional 1,079,056 shares in the last quarter. M&T Bank Corp lifted its stake in U.S. Bancorp by 36.9% in the fourth quarter. M&T Bank Corp now owns 1,158,848 shares of the financial services provider’s stock worth $55,427,000 after acquiring an additional 312,504 shares during the period. Finally, D.A. Davidson & CO. grew its holdings in U.S. Bancorp by 11.3% during the 4th quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock worth $18,212,000 after acquiring an additional 38,802 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

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.