Morgan Stanley Has Lowered Expectations for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its target price dropped by investment analysts at Morgan Stanley from $51.00 to $50.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 29.39% from the company’s previous close.

Several other brokerages also recently weighed in on USB. Wolfe Research raised shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 target price on the stock in a research note on Thursday, April 3rd. Barclays decreased their price objective on shares of U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday. Truist Financial cut their target price on U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating on the stock in a research note on Thursday. Wells Fargo & Company decreased their price target on U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.89.

U.S. Bancorp Price Performance

USB traded up $0.82 during trading hours on Thursday, hitting $38.64. The company’s stock had a trading volume of 5,914,056 shares, compared to its average volume of 9,031,442. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The stock has a market cap of $60.21 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 1.73 and a beta of 0.91. The business’s 50-day moving average price is $42.91 and its 200-day moving average price is $46.86. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.06. The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same period in the previous year, the firm posted $0.78 earnings per share. Sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On U.S. Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hengehold Capital Management LLC lifted its position in U.S. Bancorp by 4.1% during the 1st quarter. Hengehold Capital Management LLC now owns 81,586 shares of the financial services provider’s stock worth $3,445,000 after acquiring an additional 3,249 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of U.S. Bancorp by 61.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 302,435 shares of the financial services provider’s stock valued at $12,769,000 after acquiring an additional 115,372 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of U.S. Bancorp by 6.0% during the first quarter. Ritholtz Wealth Management now owns 57,462 shares of the financial services provider’s stock worth $2,426,000 after purchasing an additional 3,247 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in U.S. Bancorp in the first quarter valued at $327,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at about $44,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

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.