U.S. Bancorp (NYSE:USB) Stock Price Target Lowered at Truist Financial

U.S. Bancorp (NYSE:USB) had its price target lowered by investment analysts at Truist Financial from $69.00 to $67.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective would suggest a potential upside of 15.88% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. CLSA set a $67.50 price target on U.S. Bancorp in a report on Monday, July 20th. Barclays raised their price objective on U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Keefe, Bruyette & Woods lifted their price objective on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Finally, Evercore upgraded shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.56.

U.S. Bancorp Price Performance

USB stock opened at $57.82 on Thursday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The business has a 50-day simple moving average of $62.37 and a two-hundred day simple moving average of $58.57. The company has a market capitalization of $90.08 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. U.S. Bancorp has a 52-week low of $45.02 and a 52-week high of $66.07.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate 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 $7.69 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the prior year, the business posted $1.11 earnings per share. Research analysts expect that U.S. Bancorp will post 5.25 EPS for the current fiscal year.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the transaction, the insider owned 74,969 shares in the company, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gunjan Kedia sold 27,267 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the sale, the chief executive officer owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This trade represents a 6.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Mufg Bank LTD. purchased a new stake in U.S. Bancorp in the 2nd quarter worth approximately $2,680,199,000. Auto Owners Insurance Co increased its stake in U.S. Bancorp by 5,236.0% in the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after acquiring an additional 32,725,000 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $536,457,000. Capital Research Global Investors bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $296,377,000. Finally, Victory Capital Management Inc. boosted its position in shares of U.S. Bancorp by 63.2% during the 4th quarter. Victory Capital Management Inc. now owns 9,480,254 shares of the financial services provider’s stock valued at $505,866,000 after acquiring an additional 3,672,742 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. The company provides banking, lending, payment, investment, and wealth management services to individuals, businesses, government entities, and institutional clients.

Through U.S. Bank, its principal subsidiary, U.S. Bancorp offers checking and savings accounts, credit cards, mortgages, consumer and business loans, commercial banking, treasury management, investment services, and financial planning.