Evercore ISI Issues Positive Forecast for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its price objective hoisted by Evercore ISI from $60.00 to $65.00 in a note issued to investors on Thursday, MarketBeat reports. The firm presently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s price target suggests a potential upside of 10.05% from the company’s previous close.

Other analysts have also issued reports about the company. Oppenheimer raised their price objective on U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Truist Financial raised their price target on shares of U.S. Bancorp from $58.00 to $61.00 and gave the company a “hold” rating in a research note on Wednesday, January 21st. Wolfe Research cut shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. Finally, Citigroup upped their target price on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $58.90.

U.S. Bancorp Price Performance

USB traded down $0.36 on Thursday, hitting $59.07. 4,535,447 shares of the stock were exchanged, compared to its average volume of 12,241,818. The business has a 50-day moving average of $54.13 and a two-hundred day moving average of $49.69. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $60.60. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $91.81 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.05 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $1.07 earnings per share. Sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Hedge Funds Weigh In On U.S. Bancorp

A number of large investors have recently modified their holdings of the company. DNB Asset Management AS increased its position in shares of U.S. Bancorp by 1.4% during the fourth quarter. DNB Asset Management AS now owns 308,608 shares of the financial services provider’s stock worth $16,467,000 after acquiring an additional 4,337 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in U.S. Bancorp by 0.4% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 187,049 shares of the financial services provider’s stock worth $9,981,000 after purchasing an additional 732 shares in the last quarter. Paulson Wealth Management Inc. raised its stake in shares of U.S. Bancorp by 2.0% in the fourth quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 173 shares during the last quarter. AustralianSuper Pty Ltd boosted its position in shares of U.S. Bancorp by 10.8% during the fourth quarter. AustralianSuper Pty Ltd now owns 178,758 shares of the financial services provider’s stock valued at $9,539,000 after buying an additional 17,378 shares during the last quarter. Finally, Avantax Planning Partners Inc. grew its holdings in U.S. Bancorp by 1.5% during the fourth quarter. Avantax Planning Partners Inc. now owns 91,510 shares of the financial services provider’s stock worth $4,883,000 after buying an additional 1,362 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.