Truist Financial Has Lowered Expectations for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its price target decreased by stock analysts at Truist Financial from $51.00 to $48.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 25.02% from the stock’s previous close.

Several other equities research analysts have also issued reports on USB. Wolfe Research raised shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price objective for the company in a research note on Thursday, April 3rd. Keefe, Bruyette & Woods dropped their price objective on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating on the stock in a research note on Thursday. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Finally, The Goldman Sachs Group reduced their price objective on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $52.57.

U.S. Bancorp Stock Up 1.5 %

Shares of U.S. Bancorp stock traded up $0.57 on Thursday, hitting $38.39. 3,846,393 shares of the company traded hands, compared to its average volume of 9,024,134. 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 has a 12-month low of $35.18 and a 12-month high of $53.98. The company has a 50-day moving average price of $42.91 and a 200 day moving average price of $46.86. The company has a market cap of $59.82 billion, a PE ratio of 10.10, a PEG ratio of 1.73 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates 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 company earned $0.78 EPS. Sell-side analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the sale, the insider now owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. The trade was a 9.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On U.S. Bancorp

Several institutional investors have recently made changes to their positions in the stock. Winch Advisory Services LLC increased its position in U.S. Bancorp by 1,088.9% in the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after buying an additional 490 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in shares of U.S. Bancorp during the fourth quarter worth approximately $26,000. FPC Investment Advisory Inc. acquired a new stake in U.S. Bancorp in the 4th quarter valued at $28,000. Global Wealth Strategies & Associates raised its holdings in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after buying an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in U.S. Bancorp during the fourth quarter worth $30,000. Institutional investors and hedge funds 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.