Keefe, Bruyette & Woods Boosts U.S. Bancorp (NYSE:USB) Price Target to $66.00

U.S. Bancorp (NYSE:USB) had its price target boosted by Keefe, Bruyette & Woods from $63.00 to $66.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 4.53% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Royal Bank Of Canada increased their price target on U.S. Bancorp from $61.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price objective on shares of U.S. Bancorp from $57.50 to $65.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 6th. Morgan Stanley increased their target price on shares of U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Finally, Robert W. Baird raised their target price on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.52.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $63.14 on Friday. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $64.84. The company has a market cap of $97.93 billion, a PE ratio of 12.60, a P/E/G ratio of 1.08 and a beta of 0.96. The stock has a 50 day simple moving average of $57.89 and a 200-day simple moving average of $56.08. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.28 by $0.07. The firm had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period last year, the firm earned $1.11 EPS. On average, equities research analysts forecast that U.S. Bancorp will post 5.18 EPS for the current year.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Several large investors have recently made changes to their positions in the business. Brighton Jones LLC raised its holdings in shares of U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after purchasing an additional 36,863 shares in the last quarter. Empowered Funds LLC boosted its holdings in U.S. Bancorp by 2.1% during the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock worth $1,453,000 after buying an additional 714 shares in the last quarter. Intech Investment Management LLC boosted its holdings in U.S. Bancorp by 18.9% during the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock worth $1,658,000 after buying an additional 6,252 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in U.S. Bancorp in the second quarter worth approximately $425,000. Finally, Nebula Research & Development LLC acquired a new position in U.S. Bancorp in the second quarter worth approximately $701,000. Institutional investors own 77.60% of the company’s stock.

Key Stories Impacting U.S. Bancorp

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: U.S. Bancorp posted Q2 earnings of $1.35 per share on revenue of $7.71 billion, both above estimates, with record quarterly revenue driven by loan growth, fee income, and a boost from its BTIG acquisition. U.S. Bancorp Q2 Earnings Beat Estimates on NII & Fee Revenue Growth
• Positive Sentiment: Management raised full-year revenue guidance to a 7% to 9% growth range, signaling confidence that momentum from higher net interest income and fee revenue will continue. Is USB’s Stronger Outlook And BTIG Fee Push Altering The Investment Case For U.S. Bancorp (USB)?
• Positive Sentiment: Several firms lifted price targets after the earnings release, including Oppenheimer, Wells Fargo, Truist, RBC, and Baird, reflecting improved sentiment around USB’s outlook. US Bancorp analysts boost their forecasts after upbeat Q2 results

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.