U.S. Bancorp (NYSE:USB) Stock Price Expected to Rise, Morgan Stanley Analyst Says

U.S. Bancorp (NYSE:USB) had its price target raised by analysts at Morgan Stanley from $51.00 to $52.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 13.74% from the company’s previous close.

A number of other brokerages also recently issued reports on USB. Wall Street Zen downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, June 7th. Evercore ISI raised their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 4th. The Goldman Sachs Group raised their target price on U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 10th. Cowen started coverage on U.S. Bancorp in a research note on Wednesday, May 14th. They issued a “buy” rating for the company. Finally, Truist Financial raised their target price on U.S. Bancorp from $48.00 to $50.00 and gave the stock a “hold” rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.36.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $45.72 on Friday. The company has a market capitalization of $71.23 billion, a PE ratio of 10.94, a P/E/G ratio of 1.75 and a beta of 0.99. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.80 and a current ratio of 0.81. The company has a 50-day simple moving average of $44.82 and a two-hundred day simple moving average of $44.27. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The firm had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. U.S. Bancorp’s revenue for the quarter was up 2.0% on a year-over-year basis. Research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the company’s stock in a transaction on Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the acquisition, the director owned 15,000 shares of the company’s stock, valued at $559,800. The trade was a 50.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

A number of large investors have recently modified their holdings of USB. Saudi Central Bank acquired a new stake in shares of U.S. Bancorp in the first quarter valued at about $26,000. Westend Capital Management LLC purchased a new stake in U.S. Bancorp during the 1st quarter worth approximately $27,000. YANKCOM Partnership increased its holdings in U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 260 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in U.S. Bancorp during the 1st quarter worth approximately $30,000. Finally, Millstone Evans Group LLC purchased a new stake in U.S. Bancorp during the 4th quarter worth approximately $31,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

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.