Truist Financial Forecasts Strong Price Appreciation for U.S. Bancorp (NYSE:USB) Stock

U.S. Bancorp (NYSE:USB) had its price target hoisted by equities researchers at Truist Financial from $66.00 to $69.00 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target points to a potential upside of 9.29% from the company’s current price.

A number of other brokerages have also issued reports on USB. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 6th. Stephens initiated coverage on shares of U.S. Bancorp in a research note on Monday, June 15th. They set an “equal weight” rating and a $63.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of U.S. Bancorp from $57.50 to $65.00 and gave the stock an “underweight” rating in a research report on Monday, July 6th. DA Davidson restated a “buy” rating and issued a $65.00 price objective on shares of U.S. Bancorp in a research note on Friday, April 17th. Finally, Morgan Stanley upped 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 report on Monday, June 29th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus target price of $66.52.

U.S. Bancorp Stock Down 1.4%

U.S. Bancorp stock opened at $63.14 on Friday. The company has a market capitalization of $97.93 billion, a P/E ratio of 12.60, a PEG ratio of 1.08 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.83. U.S. Bancorp has a fifty-two week low of $43.46 and a fifty-two week high of $64.84. The stock has a 50-day simple moving average of $57.89 and a 200-day simple moving average of $56.08.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The firm had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter last year, the business posted $1.11 EPS. Equities research analysts expect that U.S. Bancorp will post 5.18 earnings per share for the current year.

Insider Activity at U.S. Bancorp

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

Institutional Trading of U.S. Bancorp

Several hedge funds have recently made changes to their positions in USB. Clayton Financial Group LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter worth about $25,000. Financial Life Planners purchased a new position in U.S. Bancorp during the first quarter worth about $27,000. Main Street Group LTD acquired a new stake in U.S. Bancorp in the first quarter valued at about $28,000. JPL Wealth Management LLC acquired a new stake in U.S. Bancorp in the third quarter valued at about $28,000. Finally, Binnacle Investments Inc boosted its holdings in U.S. Bancorp by 77.8% in the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 273 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp News Summary

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.