U.S. Bancorp (NYSE:USB) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

U.S. Bancorp (NYSE:USB) had its price objective increased by research analysts at Royal Bank Of Canada from $61.00 to $68.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s target price points to a potential upside of 7.70% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Barclays lifted their price objective on U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday. Raymond James Financial started coverage on U.S. Bancorp in a report on Wednesday, July 8th. They issued a “strong-buy” rating and a $72.00 target price for the company. Robert W. Baird raised their target price on U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday. Oppenheimer reduced their price target on U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of U.S. Bancorp from $57.50 to $65.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $66.52.

U.S. Bancorp Stock Down 1.4%

USB stock opened at $63.14 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. The firm has a 50-day moving average of $57.89 and a two-hundred day moving average of $56.08. 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 price-to-earnings ratio of 12.60, a PEG ratio of 1.08 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.07. The business 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 in the previous year, the firm posted $1.11 EPS. As a group, analysts forecast that U.S. Bancorp will post 5.18 earnings per share for the current fiscal year.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the company’s 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 completion of the transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of U.S. Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank & Trust Co raised its holdings in U.S. Bancorp by 5.7% in the 2nd quarter. Bank & Trust Co now owns 10,912 shares of the financial services provider’s stock valued at $659,000 after buying an additional 584 shares during the period. Wedge Capital Management L L P NC purchased a new position in U.S. Bancorp during the second quarter worth about $202,000. Annex Advisory Services LLC boosted its stake in U.S. Bancorp by 1.7% during the second quarter. Annex Advisory Services LLC now owns 36,218 shares of the financial services provider’s stock worth $2,188,000 after buying an additional 600 shares during the period. Cardinal Capital Management Inc. increased its position in shares of U.S. Bancorp by 5.4% during the second quarter. Cardinal Capital Management Inc. now owns 326,565 shares of the financial services provider’s stock valued at $19,725,000 after acquiring an additional 16,814 shares during the last quarter. Finally, Tema ETFs LLC increased its position in shares of U.S. Bancorp by 10.3% during the second quarter. Tema ETFs LLC now owns 29,461 shares of the financial services provider’s stock valued at $1,779,000 after acquiring an additional 2,755 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

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

U.S. Bancorp Company Profile

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.