U.S. Bancorp (NYSE:USB) Price Target Lowered to $48.00 at Wells Fargo & Company

U.S. Bancorp (NYSE:USB) had its price objective reduced by equities researchers at Wells Fargo & Company from $50.00 to $48.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 20.85% from the stock’s previous close.

Several other brokerages also recently issued reports on USB. Royal Bank of Canada increased their price objective on shares of U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $45.00 price objective (down previously from $52.00) on shares of U.S. Bancorp in a research report on Thursday. Jefferies Financial Group increased their price objective on shares of U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Oppenheimer lowered their price objective on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Stephens downgraded shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $46.77.

U.S. Bancorp Trading Up 0.5 %

NYSE USB traded up $0.20 during mid-day trading on Thursday, hitting $39.72. The company’s stock had a trading volume of 4,119,491 shares, compared to its average volume of 8,715,569. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $45.85. The stock’s fifty day simple moving average is $42.33 and its two-hundred day simple moving average is $39.72. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $61.89 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The firm had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the firm posted $1.16 earnings per share. U.S. Bancorp’s revenue for the quarter was down 6.4% compared to the same quarter last year. Research analysts expect that U.S. Bancorp will post 3.87 EPS for the current year.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the sale, the insider now owns 144,236 shares in the company, valued at approximately $6,255,515.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Institutional Trading of U.S. Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of U.S. Bancorp by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock valued at $4,513,127,000 after purchasing an additional 6,479,642 shares during the period. Mufg Bank LTD. increased its holdings in shares of U.S. Bancorp by 54.1% in the 3rd quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock valued at $2,260,450,000 after purchasing an additional 24,000,000 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in shares of U.S. Bancorp by 130,768.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock valued at $2,628,544,000 after purchasing an additional 60,227,825 shares during the period. FMR LLC increased its holdings in shares of U.S. Bancorp by 1.8% in the 3rd quarter. FMR LLC now owns 37,470,199 shares of the financial services provider’s stock valued at $1,238,765,000 after purchasing an additional 674,583 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of U.S. Bancorp by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock valued at $1,459,363,000 after purchasing an additional 2,598,163 shares during the period. 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.