U.S. Bancorp (NYSE:USB) Price Target Cut to $45.00 by Analysts at The Goldman Sachs Group

U.S. Bancorp (NYSE:USB) had its price objective cut by research analysts at The Goldman Sachs Group from $51.00 to $45.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 6.17% from the stock’s current price.

A number of other brokerages have also recently commented on USB. Truist Financial initiated coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective for the company. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research note on Thursday, December 19th. Barclays lifted their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Bank of America dropped their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday. Finally, Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $65.00 in a research report on Monday, November 25th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.93.

U.S. Bancorp Price Performance

NYSE USB traded up $0.10 on Wednesday, reaching $42.38. The company had a trading volume of 467,300 shares, compared to its average volume of 9,680,331. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The stock has a market capitalization of $66.03 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The firm’s 50 day moving average price is $46.63 and its 200 day moving average price is $47.73. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period last year, the company posted $0.99 EPS. The business’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at $58,132,431. The trade was a 7.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock worth $10,385,665 in the last 90 days. 0.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Winch Advisory Services LLC grew its position in U.S. Bancorp by 1,088.9% during the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 490 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in U.S. Bancorp during the 4th quarter worth approximately $26,000. FPC Investment Advisory Inc. purchased a new stake in U.S. Bancorp during the 4th quarter worth approximately $28,000. Global Wealth Strategies & Associates grew its position in U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in U.S. Bancorp during the 4th quarter worth approximately $30,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Company Profile

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.